business titles for llc
Setting up an LLC/Corporation?
I am looking to set up an LLC/Corporation with a friend/business partner. I have done almost all of the preliminary work and the idea is mine. I have brought the idea up with him and he likes it. He is primarily funding the venture, however, he is looking for a title and position as well-probably other than partner. How do I give him a title/prestigious position in the company where he feels needed, such as CEO/President, etc., without giving up control of my business idea. His ideas will be welcome, as will our other workers, however, by no means do I want this to be 50/50 or my business partner to have more control over decisions etc. than myself. Thanks
This one is easy. All you have to do is form your company as an LLC, make him one of the owners/members, give him 49% of the company, and the title of CEO. When you write up your operating agreement just be sure to specify that each share/percentage of ownership equals one vote. That way he will never be able to out vote you, and you will always have the last say.
If you want more help just shoot me an email.
Nathan Hall Basic’s of an LLC for Your MLM
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