starting a business

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  #1  
Old 01-23-09, 01:52 PM
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starting a business

when starting a new business with 4 owners, is there 1 out of the 4 that has a higher percent than the other 3?
 
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Old 01-23-09, 02:05 PM
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From a non-legal pro opinion...depends on the contract and the investment by each of the owners.

You put in $20 or equivalent, they each put in $10.....you own 40% of the business..they each own 20%.
 
  #3  
Old 01-23-09, 02:57 PM
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If starting a new business, you need a good attorney to help get the business set up legally and to review all contracts. You will most definitely need a good tax account.

If this will be a small business, the Small Business Association is a wealth of info. A good place to start is at http://www.sba.gov/ They offer a business plan tutorial and outline.

There is a wealth of info on the internet about starting a business. Here's another link with lots of links to helpful info. Starting a Small Business 101
 
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Old 02-04-09, 08:14 AM
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if it's a partnership or joint venture, the answer is no. equal shares. however, beware of joint and several liability and the possibility that if the other 3 default on an obligation, you may be stuck holding the bag [like 4 names on an apartment lease]. completely agree: hire a good lawyer.
 
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