You will need to enter into a trade secret agreement in which in exchange for letting them know the recipe, you would get some percentage. Best to work with an attorney in the drafting of the agreement.
I am in the process of establishing a partnership with another company. A new company was to be formed in which the two services (software) would be combined to create one company/service. The other party signed an NDA, I then sent a proposal suggesting the merger or creation of a new company. I... View More
An estranged family member is the majority owner of the partnership and I do not have direct contact to him, only through his attorney. I would like to know my options of how to receive payout of my shares and what I am legally entitled to. The investment is incorporated in Delaware.
the answer to this is heavily dependent on the Limited Partnership document. Most family LPs have restrictions on sale/transfer of shares, and also some mechanism to value the shares (often at a discount) when a Limited Partner wants to cash out. This are usually set forth in detail in the LP...View More
I have a 10 year old single member LLC (registered in PA). Can I amend my articles of organization and rename the company to turn it into a different business than it was originally created as? I want to capitalize on the age of this entity?
this answer depends on your documents and whether you have maintained the LLC as active in PA. Most Certificates of Organization filed for LLCs do not contain specified types of business that the LLC will operate. so, in general, as long as the business is legal to operate, your LLC should be...View More
in a non profit corporation (in this case a parent run 501c3 youth sport organization) can voting be limited to one per family even if two members of the family are on the board of directors? How should that be written?
in general , yes, you can draft or revise your Bylaws to limit voting as you describe. you should consult with your attorney to review your Articles and Bylaws before attempting to draft the voting restrictions as you describe them
This is not a question you are going to get answered in such a short space. PA has a complex and fragmented liquor law, and beer is treated separately from wine and liquor. Further, there are also separate laws if you brew your own beer or make your own wine. Licenses/permits are required for...View More
about 10 years ago, my family started a charity that I describe as "Make a Wish for adults with terminal conditions/disabilities." This charity was started in my late grandfather's name. when the charity was started, it had two of my family members on the board, the rest were close... View More
These are difficult situations when the family founders lose touch with the charity since charities are not "owned" by anyone. Also depends on whether a public charity or a private foundation. Depends on original documents, tax status, and other factors. In Pennsylvania the Attorney...View More
I am building my startup and I found an investor for my business (incorporated as LLC in PA, USA). Investor said that the deal will be done on the basis of equity financing. And now he is asking me to send the copies of my passport, certificate of incorporation, memorandum and articles of... View More
Trademarks are differentiated by "Class" -- When you submit an application for a trademark registration, you must specifically identify which stream of commerce you are using your mark, and if the USPTO finds that there is no likelihood of confusion with another existing mark, you will be...View More
Hey Guys, I am not sure the exact terms of this, but i own 10% of an LLC, while someone else owns 90%. We are talking about bringing in a capital partner somewhere in the 40% range. I was told that my shares will be diluted in the same according to my other partners. so of that 40% 4% would come... View More
The answer is that this type of scenario is normally the subject of negotiation among the parties and depends upon the facts and circumstances of the situation, unless the operating agreement specifies exactly what happens in the event both members bring on another member. For example, assuming...View More
Originally started business with sibling who then decided to become sole proprietor without my knowledge. She then made a request for a business name change that she took my name off, stole the business and the name from me along with the logo and documents such as contract agreements that she... View More
You need to at least contact an attorney who handles partnerships as there are issues about breach of trust and other matters that impact this, and to write a letter called a "cease and desist" letter on your behalf. Ultimately you would be looking for some type of Declaratory Judgment...View More
If there are truly no employees, workers' compensation insurance may not be necessary. However, if anyone works for the company you may want to have the relationship reviewed by an employment attorney to make sure it isn't an employer/employee relationship.
You need to retained experienced Pennsylvania counsel to assist you with this. What is this third party claiming? Do they have an attorney involved? You need experienced counsel to protect your business.
I put the team together in October, came up with the idea, we all signed NDAs, but now they are asking more equity than id like to give. They signed non-competes, can I choose to not work with them? Will they have any grounds to claim the company. Currently while the LLC is being approved at the... View More
You may be OK but you really need the advice of a partnership expert. I suggest Ken Milner--give him a call. Tell him I suggested you call. Because of implied obligations etc. it's not something anyone can give you an easy yes/no on.
Your question is way too broad to be answered in this forum. You should consult an experienced business attorney and accountant who can assist you figure out if you should operate as a corporation, limited liability company or a sole proprietorship. Additionally, the attorney would need an...View More
I gave my business partner a little over $300-k four years ago. He has not yet put me on the books or shared profits or doesn’t answer my calls and refuses to meet me. I continue to work at the business and run the business. The business partner has complete control of the finances. I just want... View More
Attorneys fees possible but unlikely. Focus on the rest. If you have that much at stake you need a partnership attorney. You need to retain one, get advice as to what you can do to secure the evidence --for instance on the computers--etc. If you are in eastern PA I can recommend someone to you.
We teach sport classes at daycares, so we don't have any actual facility. We bring equipment to schools and are considered "contractors". The business address is in NJ, so I am hoping that as a contractor, we don't have to register in PA as well even though we do classes over there.
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