if we are 7 partner who want to form a business and 1 will have 40% share and the rest will have 10% share each, what is the best way to do this?

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if we are 7 partner who want to form a business and 1 will have 40% share and the rest will have 10% share each, what is the best way to do this?

Should it be an LLC or C corporation?

Asked on May 15, 2014 under Business Law, Pennsylvania

Answers:

Shawn Jackson / The Jackson Law Firm, P.C.

Answered 7 years ago | Contributor

Well, on the assumption that you want to protect against the vast exposure you would have with a general partnership, I would suggest that you think about having a business development attorney assist you in creating either a LLC or a corporation...you do NOT want a general or a limited partnership.

Shawn Jackson California Business Development Attorney


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