Legal Question in Business Law in Texas
Owning Two Companies
Can an individual person legally own less than 50% of an S corporation and also legally own 100% of another business that is in the same field of business as the other. In other words - they are competitive companies?
Asked on 2/12/05, 3:06 pm
1 Answer from Attorneys
Peter Bradie
Bradie, Bradie & Bradie
Re: Owning Two Companies
Sure. Nothing illegal about that. Now, if he's on the board of the company where he's a minority shareholder, and uses that position to steer business to his own company, that's wrong.
Answered on 2/12/05, 9:46 pm
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