Legal Question in Business Law in Oregon

What is the minimum legal age to own a business in Oregon

What is the minimum legal age you can be and still own a business in Oregon? Can my 7 year old own a business? My 9 year old? 10? 13? 15?

I've looked everywhere and it seems there is no set age.

I would like to set them up in a business as soon as possible.

Thanks


Asked on 3/25/00, 1:24 am

1 Answer from Attorneys
Jeffrey W. Jones Jeffrey W. Jones, P.A.

Re: What is the minimum legal age to own a business in Oregon

In Oregon, a minor (someone below 18) can own property, including shares of a business. However, a minor cannot enter into legally enforcable contracts. Therefore, to bind the minor, they usually must act through their guardian.

Read more
Answered on 3/28/00, 3:41 pm


Related Questions & Answers

More Business Law questions and answers in Oregon