Legal Question in Business Law in Michigan
I am a physician who owns a medical practice as an S-corporation. Can I add a partner who is not a medical professional?
Asked on 12/10/10, 6:57 am
1 Answer from Attorneys
Kevin B. Murphy
Franchise Foundations, APC
As a Franchise Attorney I can tell you in most professional corporations, all stockholders must be licensed. The bylaws often address this question. I'm not sure what you mean by adding a partner to your corporation; did you mean shareholder? Of course, you can hire a non-licensed person and develop an appropriate compensation package. Consult with a good business or franchise attorney in your area for specific advice.
Mr. Franchise - Kevin B. Murphy, B.S., M.B.A., J.D.
Franchise Foundations, a Professional Corporation
Answered on 12/15/10, 8:39 am
Related Questions & Answers
-
Is there any resources out there to help with extensive legal expenses? Asked 12/08/10, 4:34 pm in United States Michigan Business Law
-
Hello. I manage an auto repair facility in Michigan. It seems the owner has stopped... Asked 12/08/10, 3:15 pm in United States Michigan Business Law
-
I signed an agreement with my employer to receive educational assistance, with the... Asked 12/08/10, 10:11 am in United States Michigan Business Law
-
I have a commercial customer who purchased 24 custom-made windows for a building... Asked 12/07/10, 10:47 am in United States Michigan Business Law
-
I work for a trucking company. I have a business degree, but my business law class... Asked 12/01/10, 7:14 am in United States Michigan Business Law