Lawyer Referral

[seamles]

I got sort of screwed being naive and getting into a startup that probably was destined to go no where. I have a few thousand tied up in the business and I think the founder is being super sketchy (claiming he has a lawyer when he has none or won't share his info and generally always just being very elusive and shady).

In any case, I am looking for a lawyer to consult and who could potentially contact him and ask for my shareholder right to view the finances, which he won't share.

If anyone knows anyone who could help, I'd greatly appreciate it! And if I can share the experience and prevent others from getting involved in bad business deals, that's even better.

Thanks to the FLF that's been an amazing resource for me.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[frieden70]

If it's just a few thousand dollars, honestly, cut your losses and hopefully you learned something from it.

Depending on where you live, I may have an attorney that could help but chances are, you'll be spending at least $1000 to have anything done (and I'm being generous). Good attorneys aren't cheap. I can easily see the legal fees alone end up costing more than a few thousand dollars depending on the circumstances.

 

[seamles]

I've heard this also.

The other options were potentially small court, mediation, or just letting it go. I've learned a lot (on what to avoid) and was willing to let it go but I've heard from some friends that I should at least make an effort to see if he would give it back.

Mostly because I'm catching him in his lies and maybe he will get scared and just give it back instead of dealing with the threat of actual lawyer fees.

 

[Vigilante]

if you want a lawyer, find one locally. lawyers are not free, especially for what you want them to do. Be prepared to pay $500 for a legal demand letter.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[seamles]

Yea, just was wondering if anyone knew any locally or who had friends that might help. Thanks!

 

[frieden70]

Just be careful with how you focus your energy and time.

I'm not suggesting a few grand isn't a lot of money, but you'll spend it pretty quickly when hiring an attorney (and there's no guarantee of your initial investment coming back).

Just to give you a point of reference for how much this shit costs, I had 2 letters drafted by my attorney. 1 was a partner agreement and 1 was a separation agreement. This was done as a favor to me since the guy knows my Dad and was discounted to... $1500. My other attorney was going to charge 5K for the 2 documents.

This is why I'm just saying exercise caution with how you want to spend your time and money. IMO, a few grand isn't worth actively pursuing (searching for an attorney, describing what happened, reading the drafted letter and then dealing with going back and forths).

It sounds like this other dude is a real prick but you have to decide whether you want to be right or whether you want to move forward and work on something great.

 

[frieden70]

Yea, just was wondering if anyone knew any locally or who had friends that might help. Thanks!

You haven't told us where you're located...

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[seamles]

Haha, I wonder if lawyers then are somewhat considered fastlane with those rates!
Even as a doctor, I hear you can only get about $300/hr ish.

So much to learn..

Wish I read FL before I thought the startup world was so easy. As everyone says, process and learning and failure and then keep going towards something bigger and better.

Thanks Frieden and Vigilante! I'll probably just let it go unless the laywer says he'll do it for real low price.

Speed + to you all.

 

[seamles]

Oh I'm in LA.

 

[jon.a]

Just run away from the bad partner. I had one once. 49% me 51% him. I forced him to vote me out as an officer and board member to protect myself from his dealings. I was still a share holder but not liable. One of the best moves that I ever made.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[seamles]

Did you lose your shares and investment?

 

[jon.a]

Did you lose your shares and investment?

Yes, but nothing else. It could have been worse, he was a crook.

 

[Steve37]

As others have stated just chalk it up to experience and move on. It will absolutely cost you much more than you're chasing to bring any sort of meaningful legal action.

Time and energy spent dealing with litigation type of issues is draining, frustrating, a time waster, and absolutely not worth the hassle for a few grand.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[JEdwards]

Forget about it. Seriously Dont waste your time. But before you do make sure you are off everything and I mean everything. Make sure your name is no where to be found.

 

[Bouncing Soul]

Honestly, a good attorney would probably tell you not to bother, if you are a new client. Cheap attorneys are the most expensive kind. Look at this as a cheap education remembering you invest in the founder, not the idea.

Law is no more intrinsically fastlane than being a janitor.

 

[jon.a]

Honestly, a good attorney would probably tell you not to bother, if you are a new client. Cheap attorneys are the most expensive kind. Look at this as a cheap education remembering you invest in the founder, not the idea.

Law is no more intrinsically fastlane than being a janitor.

If you ask a lawyer if you need a lawyer, the answer is almost always yes.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Bouncing Soul]

If you ask a lawyer if you need a lawyer, the answer is almost always yes.

Well, I did use the qualifier "good" lawyer.

The first time I tried to hire a lawyer was over a contract dispute and a thousand bucks. The lady that did the firm's incoming actually told me not to bother despite knowing I had the money to fight and was pissed off enough to spend more than a thousand to get my thousand back.

Mrs. Bouncing has since that situation become a good attorney, so I know exactly what she'd say to anyone that wasn't already a favored client.

 

[seamles]

I spoke with a laywer who told me to "run" from the company because he saw many red flags. He is worried that if I'm part of it and anything happens that I could be liable beyond the LLC if someone were to really go after the company. He recommended either trying to void the contract or saying it's valid and then saying he breached the contract.

I'm in the process of speaking to a few lawyers but it's sort of bothering/freaking me out. I would love for him to just void it so we can be out of each other's hair but I'm not sure what he's going to do.

I'm also worried about my new venture for medical ebooks if I have to setup an LLC for providing medical advice (not meant to be diagnostic or therapeutic but through a fiction story).

I can't believe Law and all this makes such a big impact on fastlane work, how does everyone deal with it? Fees and time and everything!