Legal Question in Business Law in Maryland

Changing a business entity

I want to become 51% partner in my fiance's very small (just him and I) home improvment business. It is currently a sole proprietership. What forms do I need to become 51% partner. I have looked at partnership forms but they don't get specific as far as percentage of ownership. My main goal is to later get certified as a Women Owned Business and/or minority. Any help would be GREATLY appreciated. No one else seems to know what they're talking about.

Thanks,

Candy


Asked on 1/26/05, 11:33 am

1 Answer from Attorneys
Robert Sher Wagshal and Sher

Re: Changing a business entity

You need a well-crafted partnership agreement between you and your fiance. If you want to become a limited liability company, which is recommended for this type of business, you also need to complete certain documents in compliance with Maryland law. You would be wise to engage an attorney who knows how to do this and how to protect your interests down the road to do this for you. Let me know if I can be of assistance.

Robert Sher

301 986-4555

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Answered on 1/26/05, 2:31 pm


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