What is the name of your state? Texas



Some things you may want to know about the agreement. It was not notarized and was not drafted by a lawyer. Partner 1 drafted it himself.

We started the company November 1, 2005. When Partner 1 and 2 joined the company they paid $2,700.00 in bills that were due for the company and gave me a salary. By the end of January we could not agree on how business should be operated, they never staffed the company as promised, cut the advertising budget, we could not profit, fingers were pointed and now they want to take legal action against me to get all the money they put into the company and the $2700.00 for the bills they paid to get into the company.

The Beginning of February is when everything went bad, I was experiencing migrains for a couple of weeks in January and on February second I went for a doctors visit and on the third I went to the emergency room. A few days later my partners said I had abandoned the company for not returning calls all week and they are demanding to sell the company or sue me for all the money they have invested.

I worked very hard for my company and unfortunately I could not produce with the marketing budget provided. They wanted daily profit and loss statements for the company, daily and weekly projections of closes(which is hard because I can not control when people want to move).

They promised me staff and two interns with a total budget of 13,000 a month. None of the promises were executed and when asked about help they replied with "you have not justified help, we are not providing you help to duplicate your results."

These two partners are always playing "good cop, bad cop" with me.
My wifes step father passed away in Dec. and at the wake I found out the funeral was the next day so I emailed my partners about the funeral and would be gone for a few hours, their responce was "A little more notice would be great" and "How are we going to make money today?"

So those are just a few things that I've experienced with my Partners and now they want all their money back.

How much protection do I have? They have banged on my backdoor and front door of my apartment and my wife feels they are harassing her. She works part-time as an event co-ordinator and they will show up to the events and ask her where I am.

Should I just give up my 25% and lose a great domain name or should I see them in court?

Below is a copy of my agreement with my partners. I have taken their name out and replaced it with "Partner 1 and 2" and "me"

Summary of Partner 1 - 37.5%
Partnership Partner 2 -37.5%
Me - 25%

Capital = Partner 1 and Partner 2 will be responsible for providing investment capital for the purchase of necessary investments to begin operation of “real estate company”

Variable Cost = Partner 1 and Partner 2 will pay Variable Costs, until the company generates revenue or the cancellation of the agreement.
Fixed Cost = Partner 1 and Partner 2 will pay fixed Costs until the company generates revenue or the cancellation of the agreement.
Special Terms = 1. If the company dissolves before 12 months of operation, the domain name and website will be given, at $0 cost, back to the original owner “Me”.
2. After 1 year of operation, the company will own both the domain name, and website.
3. If the company is bid at, or above, $500,000 at any time, point I will be void, and equity will be paid out according to ownership allocations above. 4. Sale of shares is subject to the same regulations put forth.

Term = After 1 year of operation, Parnter 1 and Partner 2 will have the option of creating an LLC with the same equity allocations set forth above.
Profit Sharing Partner 1 and Partner 2 will be paid quarterly, with the first payment being made February 15t, 2006. "ME" will be paid salary monthly with his profit sharing check also being paid on February 151, 2006.

Cancellation Terms = Termination of the agreement by Partner 1 or Partner 2, as an individual can be made any time after Jan 15`, 2006, while forfeiting any ownership or equity to the remaining partners.

I am fully agreed with you....The domain name should as small as posible and also meaningful...