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      03-03-2008, 01:24 PM   #1
PorkiE90
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Any attorneys here? Need some legal advice on corporate law...

I have a small business which is run under a corporation which I am planning on leaving (I have a business partner, and we are both officers of the corporation). We unfortunately are stuck in an office lease for another 5 months, which I am paying half the lease payment.

Currently, we're in the process of valuations of my 50% stake in the company to come to a monetary figure for "buy-out". I have two questions:

1) What value should be placed on previous marketing information (sales leads purchased, non-sold clients, previous sold clients, etc.)? My business partner believes they are worthless to him.

2) My business partner is asking me to sign an agreement in which I would still be liable for any lawsuits or litigation against the corporation for a period of 12 months after I am removed from the corporation. Isn't this the whole reason why I'd be wanting to be separating from the corporation??? I'm trying to release myself from any liability by separating from the corporation, right? (This is California corporation, btw)

I understand if any of you ARE attorneys, that none of your advice here should be considered formal legal counselling... but if any of you also have any experience with this type of situation, any advice would be appreciated. I am losing a bunch of money by going through this. =(
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      03-03-2008, 02:14 PM   #2
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      03-03-2008, 02:53 PM   #3
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What the hell??
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      03-03-2008, 03:00 PM   #4
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sue everyone.
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