Legal Question in Business Law in Illinois
A the present I am the president of a new company . Recently I was asked to advance my wife's title from vice president to CEO. In addition positioning my share interest to 49% of the business to qualify for a women's national organization.My question is if I would agree to signing off on this agreement could it effect any of my future business or cause a conflict of interest.
1 Answer from Attorneys
Any attorney will tell you more facts are needed. When you say "positioning my share interest to 49%" do you mean transferring stock owned by you to your wife? What type of future business do you envision doing? Who asked you to appoint her to be CEO? Consult with an attorney in your area for specifics.
Kevin B. Murphy, B.S., M.B.A., J.D. - Mr. Franchise
Franchise Attorney
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