Legal Question in Business Law in Indiana
I am starting an LLC, and I have no start-up capitol. However, I need someone to assist me in the development of the website long-term, so I am looking to offer stock in the company as compensation. What I need to know is the following:
How would I go about offering this? I know that LLCs are not eligible for ESOP.
Could I offer the stock in such a way that I am not required to issue stock until a certain amount of service is delivered? I would like to retain the stock until the site is launched.
Is there a way to set up a safeguard, so that I will be able to buy the stock back at a discount price is the employee is not performing well? I ask this because I would like to retain the rights to remove the employee from the company.
1 Answer from Attorneys
You need to lawyer up as the saying goes. An LLC does not have stock.
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