The bold self-help response when your employer reneges on promise of shared ownership
Two weeks ago yesterday, on Sunday February 19, 2023, CEOWorld magazine published an article I wrote on “Forming a competing company to take 100% ownership of the business you built”
This new article is designed for designed for CEOs, COOs, C-level and senior executives, who were brought aboard a company by the owner or owners of the company to fill the need specific knowledge or capabilities, to retain or develop new business, to exploit a perceived opportunity, or to otherwise develop and execute a business turnaround for the business. To take on this assignment to join the owner’s company as CEO or other senior position, the executive was recruited with the owner’s offer of significant equity and shared ownership, to thus enable the executive to have a significant stake in the value he or she was bringing to the business and its owner. Yet, once your job was done or largely done, the owner moved the goal posts on you or has otherwise reneged on the promise made of significant equity on which you relied to take the position.
In this case, where you have done your job, met expectations and delivered value as expected, and the owner now changes the rules and denies you the equity you earned, this article suggests to you a self-help strategy to make you whole for what the owner has denied you, and maybe even more equity than you were first promised (serves the double-dealing owner right!).
My article discusses this self-help strategy covering these topics –
- What are the right circumstances to take, for yourself, the ownership you were promised?
- What are the constraints and circumstances that would limit such corrective self-help action on your part?
- How do you go about setting up shop, to create your own company in head-to-head competition with your former company and its owner?
- Is this self-help strategy the right choice for you?
As part of the discussion on forming your own company, my article offers important cautions and tips for those who would wish to take this advice and form their own competing business. These important cautions and tips, are also drawn from lessons learned and experience gained from my past CEO and C-level executive client representations in this field.
At the end of the article, I conclude by stating that if you have essentially built a business, with production, marketing and sales, and the owner has chosen not to fulfill his or her promises to you of shared ownership, this article suggests to you a road map for self-help. With the right executive employment counsel advising you, you may well be able to take charge. For many who have done just that, it has proven to be professionally and financially rewarding. Whichever course you take, best of luck to you!
To see my full CEOWORLD magazine. article, go to LINK: https://ceoworld.biz/2023/02/19/forming-a-competing-company-to-take-100-ownership-of-the-business-you-built/
Or on my website at https://www.executiveemploymentattorney.com/forming-a-competing-company-to-take-100-ownership-of-the-business-you-built/
This was my 40th article published in CEOWORLD since 2016. Previously, the editor advised that I can use “Featured in the CEOWORLD magazine” and the CEOWORLD “Logo” on my website and add CEOWORLD magazine in my LinkedIn profile’s “Experience Section” as an “Opinion Columnist.” and authority in the field.
On its own initiative, CEOWORLD magazine created on their website a library of Robert Adelson published articles. You can peruse this library and/or read as many of my 40 published articles as you wish. See https://ceoworld.biz/author/robert-adelson/
With more than 12.4+ million-page views, CEOWORLD magazine is the world’s leading business magazine written strictly for CEOs, CFOs, CIOs, senior management executives, business leaders, and high net worth individuals worldwide. https://www.linkedin.com/company/ceomagazine/
Tweeting my new CEOWorld article on “Forming a competing company to take 100% ownership of the business you built”
If you tweet and would like to tweet my article, here are my four (4) tweets to retweet or to use in your own tweet –
2/19/23 article @ceoworld by @attorneyadelson for #CEOs #CLevel #seniorexecutives on #Forming a #competingcompany 2 #takefullownership of the #businessyoubuilt -great #selfhelpremedy when #businessowner reneges on #promisedownership https://ceoworld.biz/2023/02/19/forming-a-competing-company-to-take-100-ownership-of-the-business-you-built/ via @CEOWORLD magazine
2/19/23 article @ceoworld by @attorneyadelson for #CLevel execs on #Forming a #competingcompany 2 #takefullownership of the #businessubuilt when u control #production & #sales -great #selfhelpremedy if #promisedownership denied 2u https://ceoworld.biz/2023/02/19/forming-a-competing-company-to-take-100-ownership-of-the-business-you-built/ via @CEOWORLD magazine
2/19/23 article @ceoworld by @attorneyadelson on #Forming #competingcompany to #takefullownership of the #businessubuilt when u can navigate past #noncompete &other constraints: great #selfhelpremedy if #promisedownership denied 2u https://ceoworld.biz/2023/02/19/forming-a-competing-company-to-take-100-ownership-of-the-business-you-built/ via @CEOWORLD magazine
2/19/23 article @ceoworld by @attorneyadelson on #Forming #competingcompany to #takefullownership of the #businessubuilt: great #selfhelpremedy if #promisedownership denied 2u provided u execute plan with care -avoid #legalpitfalls https://ceoworld.biz/2023/02/19/forming-a-competing-company-to-take-100-ownership-of-the-business-you-built/ via @CEOWORLD magazine
It is my hope that this article will be of benefit to CEOs, C-level and senior executives to offer them insights and guidance to consider this bold self-help remedy if you too were brought in to turnaround a company and the owner has moved the goal posts or otherwise reneged on his or her promise to you of significant equity after you have largely done the job as asked. Feel free to tweet or share this article. If you or any colleague of yours has a need in this area, please do reach out to me @ 617-875-8665 or rob@attorneyadelson.com
Business Law Blog by Robert Adelson, Esq. 