Sued by My Own LLC

[Jamie57]

My question involves business law in the state of: Ohio

Hey guys I need some help, this is my problem: I created a website with a partner, I had the idea and bought the URL. After 8 months another partner investor came in and we created an LLC.

5 years later as I don’t agree with the work ethics of the company I want to leave with my ideas and domains. I offered them to lease the domains but they didn’t accept and now they are taking me to court. They sued me for motion for temporary restraining order.

What I should do if I'm the owner of the domain and creator of the idea?

Thanks,

Jamie.-

[Bubba Jimmy]

When you took the new investor's money, what did you think he was buying? Is there an operating agreement? Is there anything stating who or what entity owns which assets?

By taking someone's money, it seems to me that you were selling him an interest in the idea you created. Now it seems like you want to sell it to him, and your other patner, again? If you have written agreements, they will tell you. If not, it will boil down to whom a judge believes. I suggest that if I were a judge I'd be inclined to agree with your partners that the LLC owns the assets. Of course the other two guys would owe you your share of ownership in the LLC, but again, you should have a contract stating how members leave the LLC and how they get the value of their ownership.

[KeyWestDan]

Having no ida what paperwork there is or isn't, unless it is spelled out differently, which I would seriously doubt, you invested your ideas and URLs into the LLC.

How else were percentages of ownership calculated? Obviously if an investor came in, and invested money, it was an investment that created an interest in the assets of the LLC.

Now you might have an argument if the LLC's operating agreement had been violated, but it sounds like you simply don't like the way things are going.

You can NOT take your toys and go home. If you try, you deserve to be sued into the ground.

And your partners are pretty stupid if they didn't put the URL's into its name long before this.

[Zombie]

Jamie, you're a total lunatic. They must be elated to see you leave.

Let's say I own a fleet of dump trucks, I invite investors and form a corporation that is owned by the investors/shareholders. Soon I disapprove of their "work ethics" and tell them I'm taking my fleet of dump trucks and leaving.

The best part is you're upset over *their* ethics. They are seeking a TRO because you are a really weird guy. Spend the day at a courthouse and see the people who get TRO's filed against them, most of them are as confused and delusional as you.

Sell your stake in this company and promise us you'll never operate a business again.