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#141
10-13-2007, 11:06 PM
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Re: Ask DrewDevil your legal questions
[ QUOTE ]
[ QUOTE ] I'm starting a company and want to have a temporary partner. Because of licensing issues it's necessary that he own at least 20% of the stock. I want to have an agreement between us for me to have the option, before some distant date, to buy his shares of the company at a set price. A 2p2 young brilliant poker dude attorney already said this was kosher in principle, but a second opinion would be ok. But, what I'm really asking here is...Would it be appropriate to do this in the shareholder's agreement or is there some better way? Is there any specific language that I should include in the agreement? [/ QUOTE ] You should obv. talk to a lawyer, but isn't this a terrible idea practically? A partner who has no stake in the company's long-term value is more like an employee. [/ QUOTE ] It's a contracting company and in practice he'll be more like a partner for specific projects. He also has a company and I may participate in his projects but those deals would be worked out on a case by case basis. When the time comes for me to buy him out, we may discuss a permanent partnership or possibly him being an employee. 
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#142
10-14-2007, 12:00 AM
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Re: Ask DrewDevil your legal questions
[ QUOTE ]
[ QUOTE ] Captain Awesome, I was stopped on the sidewalk the other day by a police officer who told me I was wearing an "offensive" t-shirt and he threatened me with a citation. Does the first amendment not protect my wearing an "offensive" shirt? [/ QUOTE ] The first amendment does protect you. [/ QUOTE ] To what extent? If I refuse to change the shirt, what's my play after getting a citation?
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#143
10-14-2007, 10:20 AM
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Re: Ask DrewDevil your legal questions
[ QUOTE ]
It has recently come to my attention that many college bars or bars that have amazing deals like pitchers for $2 are not serving the beer they advertise. They might be advertising Miller Light but are really getting Natty Light. I have talked to 3 employees at three different bars who have confirmed this. I am assuming it is a fairly common practice. I guess I'm wondering if this is false advertisement and what could the legal consequences be. The phrase "false advertisement" has almost became a cliche. I have no idea what it means or what results from it. Would these bars just get fined by the court? What, if anything, could happen to the patrons? Are they entitled anything other than what is advertised? [/ QUOTE ] This is not going to make you rich, if that's what you're asking. You could complain to the BBB, or possibly even your county attorney, but I doubt this would ever be more than a reprimand or a fine. But if you're rubbing your hands together greedily about the millions you're going to win by suing these bars, sorry. To recover against someone, you have to prove, you know, that you were damaged in some way. If you really want to get some money out of these business, have someone kill you in the parking lot, then your estate can sue the bar.
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#144
10-15-2007, 11:29 AM
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Re: Ask DrewDevil your legal questions
[ QUOTE ]
I'm starting a company and want to have a temporary partner. Because of licensing issues it's necessary that he own at least 20% of the stock. I want to have an agreement between us for me to have the option, before some distant date, to buy his shares of the company at a set price. A 2p2 young brilliant poker dude attorney already said this was kosher in principle, but a second opinion would be ok. But, what I'm really asking here is...Would it be appropriate to do this in the shareholder's agreement or is there some better way? Is there any specific language that I should include in the agreement? [/ QUOTE ] It is appropriate to do this in the shareholders' agreement--you should include "buy-sell provisions" that specify how each of you can buy each other out. Unfortunately, I can't give you specific language unless you hire me, but a good business attorney should be able to help you.
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#145
10-15-2007, 11:30 AM
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Re: Ask DrewDevil your legal questions
[ QUOTE ]
[ QUOTE ] [ QUOTE ] Captain Awesome, I was stopped on the sidewalk the other day by a police officer who told me I was wearing an "offensive" t-shirt and he threatened me with a citation. Does the first amendment not protect my wearing an "offensive" shirt? [/ QUOTE ] The first amendment does protect you. [/ QUOTE ] To what extent? If I refuse to change the shirt, what's my play after getting a citation? [/ QUOTE ] Ask for a trial and tell the judge that your shirt is protected by the First Amendment. Find the Supreme Court case where the guy wore a "F*ck the Draft" T-shirt and show it to the judge.
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#146
10-15-2007, 11:31 AM
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Re: Ask DrewDevil your legal questions
[ QUOTE ]
[ QUOTE ] [ QUOTE ] I'm starting a company and want to have a temporary partner. Because of licensing issues it's necessary that he own at least 20% of the stock. I want to have an agreement between us for me to have the option, before some distant date, to buy his shares of the company at a set price. A 2p2 young brilliant poker dude attorney already said this was kosher in principle, but a second opinion would be ok. But, what I'm really asking here is...Would it be appropriate to do this in the shareholder's agreement or is there some better way? Is there any specific language that I should include in the agreement? [/ QUOTE ] You should obv. talk to a lawyer, but isn't this a terrible idea practically? A partner who has no stake in the company's long-term value is more like an employee. [/ QUOTE ] It's a contracting company and in practice he'll be more like a partner for specific projects. He also has a company and I may participate in his projects but those deals would be worked out on a case by case basis. When the time comes for me to buy him out, we may discuss a permanent partnership or possibly him being an employee. [/ QUOTE ] You really really need to hire a lawyer to help you structure this.
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#147
10-15-2007, 01:12 PM
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Re: Ask DrewDevil your legal questions
[ QUOTE ]
[ QUOTE ] [ QUOTE ] [ QUOTE ] Captain Awesome, I was stopped on the sidewalk the other day by a police officer who told me I was wearing an "offensive" t-shirt and he threatened me with a citation. Does the first amendment not protect my wearing an "offensive" shirt? [/ QUOTE ] The first amendment does protect you. [/ QUOTE ] To what extent? If I refuse to change the shirt, what's my play after getting a citation? [/ QUOTE ] Ask for a trial and tell the judge that your shirt is protected by the First Amendment. Find the Supreme Court case where the guy wore a "F*ck the Draft" T-shirt and show it to the judge. [/ QUOTE ] Cohen vs. someone or other, IIRC...
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