I have recently formed an LLC in Illinois with a business partner entering a medical malpractice suit.
Plans were made for him to be a minority interest holder in the company. He now is holding out on signing an operating agreement for reasons of wanting to show him as a 50% owner of a company for leverage towards potential "loss of income, well-being, etc."
Note that this company is newly formed. No contracts for salary or payroll have ever been signed on paid out. Though there is future potential growth in the company, currently there are no sales or company history to show. All we have is some inventory.
In the end, my question is whether a court gives consideration to a newly formed company in medical malpractice suits? Is there a benefit to the outcome of any settlement or judgement because you are show you are a member of an LLC?
Thanks for your help
Plans were made for him to be a minority interest holder in the company. He now is holding out on signing an operating agreement for reasons of wanting to show him as a 50% owner of a company for leverage towards potential "loss of income, well-being, etc."
Note that this company is newly formed. No contracts for salary or payroll have ever been signed on paid out. Though there is future potential growth in the company, currently there are no sales or company history to show. All we have is some inventory.
In the end, my question is whether a court gives consideration to a newly formed company in medical malpractice suits? Is there a benefit to the outcome of any settlement or judgement because you are show you are a member of an LLC?
Thanks for your help