Re:CopperheadOS is undergoing a company takeover
by geofft on Tuesday June 05, 2018 @01:02PM
(#17239667)
The letters also say that the CEO is sole director of the corporation, which might be relevant?
Re:CopperheadOS is undergoing a company takeover
by LyndsySimon on Tuesday June 05, 2018 @01:17PM
(#17239825)
IANAL, but if the operating agreement is set up so that the CEO has a specific power, then the next layer up would be for the shareholders to amend the operating agreement. If the CEO and CTO are equal partners, neither would be able to obtain a majority vote and the operating agreement would stay as it is - assuming, of course, that the agreement requires a majority vote for amendment.
It sounds like the CEO de facto controls the company in this case, and can ignore the other shareholder at will. He could block communications with him and basically have a silent partner.
Re:CopperheadOS is undergoing a company takeover
by kingbirdy on Tuesday June 05, 2018 @01:04PM
(#17239685)
Sorry, I'm unfamiliar with with corprate structure - would that mean he's the only member of the board? In that case I suppose I see how he could be the one making demands, since the CTO with only a 50% share wouldn't be able to restructure the board to include himself.
Re:CopperheadOS is undergoing a company takeover
by _jayy on Tuesday June 05, 2018 @01:06PM
(#17239711)
[deleted]
Re:CopperheadOS is undergoing a company takeover
by zajd on Tuesday June 05, 2018 @01:12PM
(#17239787)
"refined" ie put in a place where you can control him explicitly
Re:CopperheadOS is undergoing a company takeover
by _jayy on Tuesday June 05, 2018 @01:18PM
(#17239842)
[deleted]
Re:CopperheadOS is undergoing a company takeover
by kingbirdy on Tuesday June 05, 2018 @01:27PM
(#17239949)
Actually, the letter says "On the assumption that you have no wish to depart the Company, the elements of a CTO
job description the Company considers important are set out in the attached proposed
job description. We invite your comments on that draft." So without the contents of the attachment, we can't know what actions you're saying you expect of him.
Re:CopperheadOS is undergoing a company takeover
by vesak on Tuesday June 05, 2018 @01:18PM
(#17239851)
Who's we here? The documents seem to imply that you have 50%, Daniel has 50%. Are you referring to yourself in plural?
Re:CopperheadOS is undergoing a company takeover
by _jayy on Tuesday June 05, 2018 @01:20PM
(#17239872)
[deleted]
Re:CopperheadOS is undergoing a company takeover
by jhayward on Tuesday June 05, 2018 @01:24PM
(#17239914)
Who is 'we'? Don't be coy.
However, I'm curious how Copperhead the company can send these letters demanding that the 50% co-owner do this or that. As equal owner, couldn't he respond to these letters by asking the company lawyers to send a letter back to the CEO making similar demands? Is the CEO "more in control" than the CTO because CEO is a higher position, even though they're equal partners?
[0]: https://paste.xinu.at/RrWPGW/
[1]: https://paste.xinu.at/MBEyCM/