hello all, i need some advise on releases. I have currently recruited some people to my Imo and was wondering if it would be smart to have my Imo sign releases upfront now in case we get much bigger and for whatever reason need to move on. Anyone know anything about this? And if so what kind of things need to be included in the release, or is there a specific one for each company?
Upfront release?
- Thread starter deeznuts
- Start date
ElLoachero
New Member
- 6
Mr. (I presume) deeznuts,
More information will be required
More information will be required
- 1,819
Good luck with that. Why don't you work with your IMO on growing together?
Yeah, you probably should have gotten that to begin with. Does your IMO have a reputation of releasing or not releasing? If you don't know, tell us who it is and we just might know.
- 15,041
Correct me if I'm wrong, but other than a promise isn't an upfront release effectively meaningless? Unless the IMO is signing a blank release, then it is simply a promise that could be broken when the time comes.
We have a pre-release agreement which basically says that we will release the agent if they ask and have no outstanding debt to the company. Could either party take it to court and it be seen as a legal and binding document? I think it could since both parties sign it.
- 15,041
I can't see anyone signing anything stronger than that. As to who would win, no telling. Court might even rule there was no harm, and thus no case since the agent was still free to sell the company.
