Stock Holders Rights
What is the name of your state? Oklahoma
The person that builds my products introduced me the the owner of his property and we started a new company. He lent the company 50K and for this he requested 10% stock, that he and the builder are exclussive builders, and to be a director. I got 45% stock for my patents, which I was supposed to assign to the company but haven't so. I am also a director. I asked him why I didn't get the other 45% and he said we would use that I we need to sell more of the company for funding. Right after he lend me the money he started telling me everthing we were doing was wrong. He has become a problem and it now appears he was only interested in taking the company from me. He says that the companies not worth anything and putting more funds into it is bad business. But he won't closed it down and has requested that I sign the company over to him. I currently have an offer from a corperation that wants to buy the inventory and license the patents. If I don't do it the product will die. Also theirs a co-owner of the patents, a former partner. How can I get out of this contract? What leverage does 45% have over 10%? If he was to sue me the only thing that I have is the patents and their in my name.
What is the name of your state? Oklahoma
The person that builds my products introduced me the the owner of his property and we started a new company. He lent the company 50K and for this he requested 10% stock, that he and the builder are exclussive builders, and to be a director. I got 45% stock for my patents, which I was supposed to assign to the company but haven't so. I am also a director. I asked him why I didn't get the other 45% and he said we would use that I we need to sell more of the company for funding. Right after he lend me the money he started telling me everthing we were doing was wrong. He has become a problem and it now appears he was only interested in taking the company from me. He says that the companies not worth anything and putting more funds into it is bad business. But he won't closed it down and has requested that I sign the company over to him. I currently have an offer from a corperation that wants to buy the inventory and license the patents. If I don't do it the product will die. Also theirs a co-owner of the patents, a former partner. How can I get out of this contract? What leverage does 45% have over 10%? If he was to sue me the only thing that I have is the patents and their in my name.
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