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Oklahoma Business Formation Questions & Answers
0 Answers | Asked in Business Formation, Contracts and Business Law for Oklahoma on
Q: I own equity in a small company. What are my rights?

As stated, I own equity in a small company. My main question is what are my rights when it comes to knowing or getting ahold of the documentation of profits the company has made? How do I know I am getting paid the correct amount of equity? The total sales and money being made from the product has... Read more »

1 Answer | Asked in Business Formation and Business Law for Oklahoma on
Q: I want to change my name virtually mostly for biz purposes. Can I do a DBA as a person?

I want to change my name but avoid expense & hassle. I live virtually so I want to do it virtually. I've been going by an assumed name on social media. Then I came up with a biz name for the assumed name. I just did a DBA in my legal name for the biz name that matches my assumed name.... Read more »

Charles Watts
Charles Watts answered on Mar 2, 2022

There are some specifics for name changes however there is some looseness to these that can sometimes be worked around. However that may not be your best solution but you should contact an attorney and let the review all your specifics to advise you the best course of action.

1 Answer | Asked in Business Formation and Business Law for Oklahoma on
Q: What happens, in Oklahoma, if a partner dies that is in a partnership LLC?

No contract ever written. No operating agreement

James Tack Jr
James Tack Jr answered on Sep 15, 2021

The personal representative of a member who dies becomes an assignee of the member's interest. The member's assignee interest could be distributed in a probate proceeding to the heirs or devisees of the decedent. The holder of the assignee interest can become a member upon a vote of the... Read more »

1 Answer | Asked in Business Formation, Business Law and Contracts for Oklahoma on
Q: How do i file a lawsuit and potentially file an embezzlement charge on my business partner and possibly our investor?

Can a managing business partner create a Distribution Agreement that circumvents company percentage ownership, clearly favoring his pocketbook?

Anna L Self
Anna L Self answered on Aug 17, 2021

An embezzlement charge would be file by the District Attorney or a Federal Prosecutor. You would need an attorney to file a lawsuit for you.

1 Answer | Asked in Business Formation and Business Law for Oklahoma on
Q: I am buying a Vending machine and going to place it in a bar that is 21 to enter. I want to put Tabacoo products in it

Do I need a special license to do so?.

Charles Watts
Charles Watts answered on Jun 21, 2021

Yes - all vending machines have licensing requirements.

2 Answers | Asked in Criminal Law and Business Formation for Oklahoma on
Q: Bail set at 2500 for second degree burglary is there a fine to pay or is it automatic jail time
David A. Cincotta
David A. Cincotta answered on Jan 13, 2021

While both a fine and jail/prison time are punishments for the crime, there are other options that may also be available: such as the court deferring your sentencing for a period of years (does not result in a conviction, the case gets dismissed, and the court records expunged if you successfully... Read more »

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1 Answer | Asked in Business Formation, Business Law, Consumer Law and Small Claims for Oklahoma on
Q: How would I go about filling a claim against a company for False Advertisement on a large scale, hundreds of cases

I have contacted the BBB sent and the claim was resolved being that I was given assurance of my product being where it needed to be at a certain date and they emailed me (this was about 6 months ago) so.. I resolved it with the BBB thinking that everything was good yet they have continued to False... Read more »

Tim Akpinar
Tim Akpinar answered on Jul 12, 2020

An Oklahoma attorney could advise best, as your matter could involve elements of state consumer law, but you await a response for two weeks. If you are contemplating handling the matter yourself, small claims, which you have already included in your categories, could be the most economical solution... Read more »

1 Answer | Asked in Business Formation for Oklahoma on
Q: I'm trying to startup a small bar in rural Oklahoma but I'm not exactly sure what all I need to do...

All I have so far is the liquor license from the Oklahoma ABLE Commission. Where should I go from here?

Matt Fleischer
Matt Fleischer answered on Apr 23, 2020

I'd recommend hiring a business formation attorney, but if you are wanting to do it yourself, here's a pretty good overview of the steps involved, along with links to helpful resources:

1 Answer | Asked in Business Formation, Business Law and Civil Litigation for Oklahoma on
Q: Yes if you do any kinda work for a big corporation. Do they have to pay you ? Can they make you work for free?
Tim Akpinar
Tim Akpinar answered on Dec 16, 2019

If your question refers to working and not being paid in the capacity of an employee, that's something an employment attorney could handle best. That category isn't included in the chosen categories. If you mean in the capacity of someone having done work for a corporation (maybe as a... Read more »

1 Answer | Asked in Business Formation, Business Law, Civil Litigation and Contracts for Oklahoma on
Q: If an investor contributes more than an owner do they automatically own part of the business and right to make decisions

The investor was treated as an owner but was not officially because they were worried it would affect their food stamps/unemployment (they were employed also). The business does not have an operating agreement and the investor dissolved the business without my signature. They withdrew all the... Read more »

Bruce Alexander Minnick
Bruce Alexander Minnick answered on Jun 20, 2019

Unless otherwise agreed in writing, the larger amount of money invested in a business by an investor does not mean the investor "automatically owns part of the business." However, you are throwing legal terms around without fully explaining all the important details underlying this... Read more »

1 Answer | Asked in Business Formation and Business Law for Oklahoma on
Q: If partner operates 2nd clinic under same name as 1st with II does contract apply to both, entitled 2 profit from both?

Part owner of 1 clinic partner got mad at me and started operating new place under same name but II after it. Am I entitled to same payout as with 1st clinic?

Reece B. Morrel Jr
Reece B. Morrel Jr answered on Jan 8, 2019

Quite frankly, I think the "payout" is the least of your concerns right now.

Obviously, the place to start is with whatever contract, operating agreement (LLC), partnership agreement or shareholder agreement (corporation) you may have. These documents frequently make reference to...
Read more »

1 Answer | Asked in Business Formation, Real Estate Law and Landlord - Tenant for Oklahoma on
Q: What does "Null & Void" mean? Does that absolve both parties of the lease and if so would I be liable for rest of year?

Real Estate:

Can I get clarification as to the use of 'Null and Void' in the following contract stipulation? I would like to know if null and void would 'break the lease' in a way that absolves both the TENANT and the LEASER.

"Owner and Tenant have... Read more »

Doak Willis
Doak Willis answered on Nov 12, 2018

That would mean the contract has become inoperable due to a term thue each party being released from the contract.

1 Answer | Asked in Business Formation and Tax Law for Oklahoma on
Q: In the state of Oklahoma, how many cars can I sell as a private seller before I need to have a business license?
Richard Winblad
Richard Winblad answered on Feb 13, 2018

This might help:

Oklahoma Statutes

Title 47. Motor Vehicles Chapter 62A - Used Motor Vehicle and Parts Dealers

Section 581 - Definitions

19. a. "Used motor vehicle dealer" means any person who, for a commission or with intent to make a profit or gain of...
Read more »

1 Answer | Asked in Business Formation for Oklahoma on
Q: Hello I am a Young Entrepreneur and I was wondering what Licences and permits are needed for a gumball machine business.

I am from Pryor, Oklahoma and do not plan on hiring employees for my business.

My business plan is find a business that could use a machine, set up some terms, get them to sign a contract, and pay them a cut of the profit.

So another question I have is would I need to give the... Read more »

Richard Winblad
Richard Winblad answered on Dec 31, 2017

Congratulations: The Oklahoma Tax Commission has a guide. See... Read more »

1 Answer | Asked in Business Formation, Business Law, Civil Litigation and Mergers & Acquisitions for Oklahoma on
Q: Need to find out what the exact limitations are within the Oklahoma liquor laws. Can I open a drive thru daiquiri shack?

If an alcoholic beverage is pre made, sealed in a bottle,jug,etc. none of which has been consumed before the customer leaves the property, can it be sold in a drive thru. I need to know how I can do that within limits and loop holes of OK liquor laws.

I want to open a to-go daiquiri shack... Read more »

Richard Winblad
Richard Winblad answered on Dec 31, 2017

Never seen a daiquiri shack in Oklahoma. This would probably be considered a bottle shop since the beverage is to be consumed off-premises. Aside from local restrictions (city / county) look at.... Read more »

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