by William J. Piercy
A common misconception held by many entrepreneurs is that their ownership interests in a Georgia business entity can simply be revoked by the business or taken by other owners. Under Georgia law, an ownership interests in a business entity cannot be so easily lost.
All too often, disputes …
by William J. Piercy
Gardner v. Marcum, 292 Ga. App. 369 (2008). Seeking funding to record and promote their music, musicians Gardner and Steele entered into discussions toward the possible investment of $150,000 from Marcum. Although the details of the transaction were never finalized, Marcum provided $50,000 …
by William J. Piercy
Kellett v. Kumar, 281 Ga. App. 120 (2006). This case highlights the importance of complying with the express terms of a partnership agreement. In 1980, Surender Kumar, Veeni Kumar, and Ellen Troup (collectively, the “Limited Partners”) invested and became limited partners in Westbury Associates, Limited Partnership (“Westbury”). …
by William J. Piercy
Yun v. Um, 277 Ga. App. 477 (2006). In this business divorce case, Mr. Yun and Mr. Yi began their business relationship as employer-employee. Yun, the owner of several businesses, employed Yi to manage a (largely unprofitable) grocery store that Yun owned for approximately ten years. In …