Legal Question in Business Law in Texas
I'm starting a business (s corp). I've been approached by an angel investor who may have some serious home issues with taxes, divorce, alimony, and child support.
If I take $300k from him for say 20% ownership of the business, what happens to the business if things go bad for him? Such as IRS wants to go after money he owes or something? Can they freeze the business's assets? Can his personal issues affect the business at all?
1 Answer from Attorneys
Any attorney will say a review of all facts, documents, etc. is required. In general, the investor would only own stock in your corporation. The stock certificate would be the only thing at risk. This is not a simple bulletin board type question. Consult with an attorney in your area for specifics.
Kevin B. Murphy, B.S., M.B.A., J.D. - Mr. Franchise
Franchise Attorney
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