my delware corporation does not exist!!!

[jamborees]

the delware corporation i work for is in BAD STANDING! - can i buy the name?

we are working in this delaware corporation (XYZ inc.), but we have problems with the current owner of the company.

yesterday we found out that the company is in BAD STANDING with the state of delaware because it did not pay franchise tax to delaware. the company's name is available to buy.

if we buy the company's name, is it legally ok?
what will happen to the assets of the company?
we all signed employment agreements with IP rights reserved with XYZ inc. What hapens to these agreements?

any thoughts will be highly appreciated

 

[chrissie]

Sounds like what you're saying is you want to steal the company right from under its shareholders. Shame on you!

Have you considered trying to resolve differences amicably? Or moving on and making an honest effort to come up with your own name and form your own legitimate company?

Just so you know, when a company is in bad standing because of an outstanding payment, it does not necessarily mean the company is up for grabs. The company can pay its tax bill albeit late and go back to good standing.

If you are not shareholders of the company, you cannot just arbitrarily lay claim to all of its assets and intellectual property.

If you're not satisfied where you are, then leave. Go start a company of your own from scratch--and pray that none of your employees end up doing what you were planning to do.