Summary:
Company: Technology company with patent pending and nearly $1 MM invested. All company technology is being held on a Company Server.
Organization:
Technology Inventor - 40% (appx)
11 Other Shareholders - 60% (appx)
7 Board Members (all are Shareholders)
Issues:
1) Technology Inventor is refusing to recognize the interest of certain Shareholders and their voting rights as Board Members (Shareholdes and Board Members interest in the Company are outlined in writing in executed Agreements by majority of Board Members as well as in the Company Operating Agreement).
2) Technology Inventor has the Company Server (with all of the Company Technology on it) and has repeatedly refused to return it to the legal Company Headquarters unless the Technology Inventors' interest is bought out for amounts greater than $150,000.
3) Time is of the essence.
4) The police are saying they believe this is a civil matter.
Questions:
- Does the refusal to return Company Property that has nearly $1 MM invested in it constitute criminal theft? If so, does anyone know the MO statutes which would apply?
- Are there any laws governing extortion in MO and would the Technology Inventors actions be considered criminal? If so, does anyone know the MO statutes which would apply?
Our Objective:
To have the Company Server returned without having to prosecute a civil case. We believe that the Technology Inventor will return the property if he is facing criminal charges. We have stringent deadlines to meet our launch as well as a number of strategic partners and neither will wait for a resolution which may result from a civil proceeding.
Please feel free to ask me any questions, and thank you in advance for your guidance.
Company: Technology company with patent pending and nearly $1 MM invested. All company technology is being held on a Company Server.
Organization:
Technology Inventor - 40% (appx)
11 Other Shareholders - 60% (appx)
7 Board Members (all are Shareholders)
Issues:
1) Technology Inventor is refusing to recognize the interest of certain Shareholders and their voting rights as Board Members (Shareholdes and Board Members interest in the Company are outlined in writing in executed Agreements by majority of Board Members as well as in the Company Operating Agreement).
2) Technology Inventor has the Company Server (with all of the Company Technology on it) and has repeatedly refused to return it to the legal Company Headquarters unless the Technology Inventors' interest is bought out for amounts greater than $150,000.
3) Time is of the essence.
4) The police are saying they believe this is a civil matter.
Questions:
- Does the refusal to return Company Property that has nearly $1 MM invested in it constitute criminal theft? If so, does anyone know the MO statutes which would apply?
- Are there any laws governing extortion in MO and would the Technology Inventors actions be considered criminal? If so, does anyone know the MO statutes which would apply?
Our Objective:
To have the Company Server returned without having to prosecute a civil case. We believe that the Technology Inventor will return the property if he is facing criminal charges. We have stringent deadlines to meet our launch as well as a number of strategic partners and neither will wait for a resolution which may result from a civil proceeding.
Please feel free to ask me any questions, and thank you in advance for your guidance.
