You are correct, this was not a LLC or corp. There was never any paperwork or agreements drawn up (against my advice). The ONLY actual assets are the @50 t-shirts. The software cannot be signed over to another party (could only be transferred one time which was from original owner to the 3 of us) and is now been outdated by 7 new programs that are available for purchase. The website name has no value and traffic has been steadily decreasing. We have contributed the only capital past the $5K purchase price.
Asker
Posted almost 15 years ago.
You are correct, this was not a LLC or corp. There was never any paperwork or agreements drawn up (against my advice). The ONLY actual assets are the @50 t-shirts. The software cannot be signed over to another party (could only be transferred one time which was from original owner to the 3 of us) and is now been outdated by 7 new programs that are available for purchase. The website name has no value and traffic has been steadily decreasing. We have contributed the only capital past the $5K purchase price.