Starting a hedge fund in Delaware and acting as its manager does typically require you to register as an investment advisor, depending on certain factors. The requirement for registration is governed by both federal and state laws, which vary based on the assets under management, the number of...View More
The CEO of the company where I just resigned wants to buy my shares at $132k; a stockholder wants to purchase them at $200k. Am I obliged to sell it to the company, or can I sell it to the highest buyer?
In Delaware, whether you can sell your shares to the highest bidder largely depends on the company's bylaws, stockholders' agreement, or any other agreements you may have entered into when you acquired or during the tenure of holding the shares. Some companies have a "right of first...View More
You should consult with an attorney in Delaware to assess what is the best course of action. Several actions can be brought in contract (arising out of the bylaws or operating agreement), and in Tort for the unlawful transfer of the IP and unauthorized dissolution of the Company. Instead of sending...View More
A website gives discount for each one who use an invite code. I opened more than one account to get this discount every time I purchased from them. I used different cards, name and shipping address on every time I purchased. Can they judge me or charge my card if they know that it's one who... View More
I cofounded a S corporation in Delaware a few months ago and left the company as the board member and employee after a couple of months due to disputes with my partner. I still kept the shares (50%) because I was not compensated for the work I did. The company was a start-up and did not have any... View More
Depends on what's in the operating agreement/by-laws. What was the underlying entity that was S-elected? S-corps cannot be created at the state level, you have to have a registered entity upon which to elect S status. The IRS will use the entity law to determine owner liability and...View More
I registered my business in DE named “Goddess Financial”, after a trademark search I realized there is a company in Australia named “Financial Goddess”. (Registered their trademark in USA). We offer different services but both obviously in the financial industry. Do I have to change my... View More
I would recommend that you change your name to avoid future disputes. The standard for trademark infringement is a likelihood of confusion. Sounds like that is a possibility. Now, if you were using the trademark before the date of first use of the registered mark, you may want to seek...View More
Can a minority shareholder, a privately held company, be liable to the individual whose Company was majority shareholder - in a Delaware LLC that has been sold? The individual is not a member of the LLC. Another company of his is. The Company has been sold. He could not sue prior to the sale,... View More
Anyone can sue anyone if you pay the filing fee. Your question is way too vague. Yes, the operating agreement governs. So does what the claim even is, which you have not stated. Thus, if your real question is the success of such a claim, no one could know based on your post.
I cofounded a company (became shareholder, officer and director). The company was incorporated in Delaware by the other founder (CEO and board member). The CEO and I had various disagreements over the first 2 years... long story but I ended up citing him with grave misconduct and negligence in... View More
Sounds like a messy situation. A lawyer should review the organizational and board documents (bylaws and board resolutions in particular, as well as examine whether the special meeting was properly noticed). There are many questions here, and they can't be answered without reviewing those...View More
The answer is "Yes," but if the attorney representing the defendant discovers that the corporation is not in good standing, the attorney will file a motion to dismiss. If the corporation fails to become current with franchise taxes, the Court will grant the motion.
Byelaw states "If less than a quorum shall be in attendance at the time for which a meeting has been called, the meeting may be adjourned by a majority of the Shareholders present or represented by proxy without notice other than by announcement at the meeting" If minority shareholders... View More
Why are some of the shareholders not present? Is it a question of geography or is it a lack of interest? Do the bylaws provide for shareholder action without a meeting, such as by telephone? In answer to your specific question, Delaware law recognizes that your situation may occur, and has a...View More
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