Legal Question in Business Law in California

Bill Gates was already a multimillionaire by then. But he had to have his Dad sign contracts.

More information is necessary before an attorney can give you an answer. While a 17-year old may be able to own a business (as in owning shares of stock, etc.), someone else of legal age is needed to make legally binding commitments - like signing contracts, etc. Consult with an attorney in your area for advice.

Kevin B. Murphy, B.S., M.B.A., J.D. - Mr. Franchise

Franchise Attorney

A minor (someone under 18) cannot make a binding contract except for certain "necessaries of life" and that would be a major problem in running most businesses, and probably would make it difficult to buy, or start, a business much beyond a lemonade stand or paper route. Sometimes a minor is qualified to ask a court for "emancipation" which gives him or her the power to manage his or her own affairs before age 18. You are also emancipated by getting married or enlisting in the armed forces. Otherwise, you can qualify for emancipation by living separately from your parents, managing your own financial affairs, and earning an honest living.