Note: The DearEsq free 'ask a lawyer' site is offered as a free informational service to the public and is not intended as legal advice. Laws vary from state-to-state, and in addition every situation is unique, and relevant facts may not be known. The answer to the question posed below may not apply to in your state or to your situation. For legal advice in your state and your situation you should consult with an attorney in your state who is familiar with the rules and laws in your state.
“I have had a business (incorporated) with my brother for about 10 years. We filed joint corporate taxes all the while but I did not add my name to the corporation until it was in the last year. My question is this: the company has had a computer of great value. He has it in his home (not used) and I wish to have use of it or have it sold so I can get another. Is there any recourse or legal avenue I can take for me to have access to this system or force the sale of it? Or is it possession is 9/10ths of the law? Unfortunately, he is not of the kind to allow me access but will keep it until he decides to use it or not. what can I do?”
Generally speaking, assets of a corporation belong to the corporation and not any one individual. You should consult an attorney in your area familiar with corporate legal issues as there are usually very specific steps that a ‘shareholder’ or ‘owner’ must take with regards to corporate assets and property, and these steps may differ depending on the asset, the type of business (i.e., corp, LLC, etc.) and the state in which your business is incorporated.
