copperfield
Junior Member
What is the name of your state?
The state is FL. A neighbor and I opened a FL corporation- we each own 50% of the shares. The business is a handyman business. After 5 months of hard work and finally getting the business up and running and profitable, he informs me that he does not want to be partners any more. He took all of our clients, and tools purchased by the corporation. He was in charge of the books. I later found out that he had been taking more than his share all along...
The business was never legally dissolved. I still own 50% of the shares, and he continues to operate under the incorporated name... he is carrying on the business exactly as it was, except without me. I invested thousands of dollars into the company, and hours and hours of hard work.
I need to know...
1. What are my legal liabilities... if he defrauds someone, can I be held liable?
2. Can I dissolve the corporation without his consent?
3. If the corporation is legally dissolved, can he still work under the company name?
4. Are there any other legal issues of which I should be aware?
-Copperfield
The state is FL. A neighbor and I opened a FL corporation- we each own 50% of the shares. The business is a handyman business. After 5 months of hard work and finally getting the business up and running and profitable, he informs me that he does not want to be partners any more. He took all of our clients, and tools purchased by the corporation. He was in charge of the books. I later found out that he had been taking more than his share all along...
The business was never legally dissolved. I still own 50% of the shares, and he continues to operate under the incorporated name... he is carrying on the business exactly as it was, except without me. I invested thousands of dollars into the company, and hours and hours of hard work.
I need to know...
1. What are my legal liabilities... if he defrauds someone, can I be held liable?
2. Can I dissolve the corporation without his consent?
3. If the corporation is legally dissolved, can he still work under the company name?
4. Are there any other legal issues of which I should be aware?
-Copperfield