Is there any legal compensation for opting out of an LLC partnership?
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Is there any legal compensation for opting out of an LLC partnership?
My business partner and I no longer will be working together. I have put in many hours building a successful website, however because I did the work myself I did not put out funds for the website directly. I was wondering if there was any legal compensation I could receive besides the monetary amounts I put in? Beings the website will remain running and I will no longer be part of the business.
Asked on April 11, 2012 under Business Law, Oregon
Answers:
Glenn M. Lyon, Esq. / MacGregor Lyon, LLC.
Answered 11 years ago | Contributor
Look to the terms of the LLC's operating agreement or possibly a verbal agreement between the members. Otherwise, no.
Steven Fromm / Steven J Fromm & Associates, P.C.
Answered 12 years ago | Contributor
You need to speak directly with a corporate litigation attorney as the services you performed may have a quanitifiable value. You need to meet with an attorney face to face to see if you have a meritorious claim for damages.
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