Legal Question in Business Law in Maryland

Depends. Who has contributed capital? Who has contributed sweat equity? Who has found investors? Speak with an attorney to discuss the details of your business arrangement with the other individuals. Best of luck.

The other attorney is right on point. You need to speak with a professional to review who contributes what, and what the appropriate percentages should be. Consult with a good business attorney in your area for specific advice.

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

Franchise Attorney

First of all, you should decide whether you want to operate as a corporation, a general partnership or a limited liability company (LLC). That will dictate what documents need to be prepared and signed by you and your business associates to put the enterprise on sound legal footing. An experienced attorney can go over your particular situation and advise you on the best choice and then prepare the paperwork. As for the division of the business, you must all come to an agreement on that based upon the respective contributions you have made and will be making to the business. Contact me for further information if you like.