Legal Question in Business Law in Texas

Business Ownership and Share

I've incorporated here in Texas with a partner doing a 50/50 but now he's not active and i was able to recruit 2 additional partners. i've been a real estate investor but doing it individually under an LLC but now i'm trying to partner with 3 more individuals to do real estate deals. I would like to still have full control and ownership of the company but would like to bring the 3 individuals in? what is the best and fair way to do this and how much share should i issue to them? i'm using all my capital and resources to do the deals at this moment and they are involved in marketing and construction. please advice. thank you in advance


Asked on 11/22/06, 11:23 am

1 Answer from Attorneys
Peter Bradie Bradie, Bradie & Bradie

Re: Business Ownership and Share

You have to look at how many shares have already been issued. In order to retain control you'll need to keep 51% of the issued shares. The corporation may have to issue new shares, since apparently you have a passive shareholder holding 50% of issued shares.

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Answered on 11/22/06, 11:57 am


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