I am in Virginia. I have owned a retail business since 1997 which was set up as a sole proprietorship. In 1998 I took on a partner, thought we DID NOT change the form of partnership. In 2005 we set up a LLC with each of us holding 50% of the stock.
This summer we have had a disagreement and I have left the business. The business has had major money problems and my "partner" has put a lot of her own money into it to keep it afloat. I have not had equal amounts of money but have however put in vast amounts of "sweat equity".
She now has put everything in her name (however business license with the county still shows me as the sole proprietor) and claims she is now the "owner". I am not privy as to what she has worked out with our accountant regarding the LLC and who owns what stock. NOTHING has been signed between us and we have proceded in this direction on a verbal agreement.
Do I have any legal options here? I need to be able to contine to work and would like to see what I can do in this situation. Thanks!
This summer we have had a disagreement and I have left the business. The business has had major money problems and my "partner" has put a lot of her own money into it to keep it afloat. I have not had equal amounts of money but have however put in vast amounts of "sweat equity".
She now has put everything in her name (however business license with the county still shows me as the sole proprietor) and claims she is now the "owner". I am not privy as to what she has worked out with our accountant regarding the LLC and who owns what stock. NOTHING has been signed between us and we have proceded in this direction on a verbal agreement.
Do I have any legal options here? I need to be able to contine to work and would like to see what I can do in this situation. Thanks!