Party 1 and Party 2 each have 33.3%
The relation is son and mother
Party 3 would be myself and I’d hypothetically get 33.4%
Now my question is; I want to know my current standing legally, say my power; especially over the board.
In other words, I don’t want to be kicked off like Steve Jobs (albeit his was for other reasons) but primarily I don’t want to be kicked off or overturned on my suggestions / standing in the company IF they can combine their 33.3% each, totalling 66.6% due to being relatives and blood related.
Is this possible? What power could they hold over me? Even though I would have 33.4%?
It was originally the mother’s idea (they’re a business family) but the son wanted to take it on and swapped a business of his own for the Idea. I’m unsure if there was legal documents binding the IP of the idea or not, would that make a difference too?
I just want to make sure they can’t combine they’re company holding percentages to overrule me in any way despite them being blood related And/or their original idea.
I’m doing all the forecasting, projections, company name etc. even future endeavours etc.
Party 1 & 2 are primarily the original idea makers and related, I could yes just run off with the idea myself but I have a loyalty with the son.
They have extensive political, business companies and interests all around the world and it would be a great opportunity; considering a downsizing from my potential 100% to 33.4%
A sacrifice I’m willing to make for potential future endeavours and leverage.
So thoughts? It is in Australia but even your country law (Uk, US, wherever I am glad to hear how it works. I just cannot find the legislation on AUSTLI anywhere, nor the correct wording.
Cheers
The relation is son and mother
Party 3 would be myself and I’d hypothetically get 33.4%
Now my question is; I want to know my current standing legally, say my power; especially over the board.
In other words, I don’t want to be kicked off like Steve Jobs (albeit his was for other reasons) but primarily I don’t want to be kicked off or overturned on my suggestions / standing in the company IF they can combine their 33.3% each, totalling 66.6% due to being relatives and blood related.
Is this possible? What power could they hold over me? Even though I would have 33.4%?
It was originally the mother’s idea (they’re a business family) but the son wanted to take it on and swapped a business of his own for the Idea. I’m unsure if there was legal documents binding the IP of the idea or not, would that make a difference too?
I just want to make sure they can’t combine they’re company holding percentages to overrule me in any way despite them being blood related And/or their original idea.
I’m doing all the forecasting, projections, company name etc. even future endeavours etc.
Party 1 & 2 are primarily the original idea makers and related, I could yes just run off with the idea myself but I have a loyalty with the son.
They have extensive political, business companies and interests all around the world and it would be a great opportunity; considering a downsizing from my potential 100% to 33.4%
A sacrifice I’m willing to make for potential future endeavours and leverage.
So thoughts? It is in Australia but even your country law (Uk, US, wherever I am glad to hear how it works. I just cannot find the legislation on AUSTLI anywhere, nor the correct wording.
Cheers
