WE'VE MOVED!
We are proud to announce our NEW community destination. Engage with resident experts and fellow entrepreneurs, and learn everything you need to start your business. Check out the new home of StartupNation Community at startupnation.mn.co
We are proud to announce our NEW community destination. Engage with resident experts and fellow entrepreneurs, and learn everything you need to start your business. Check out the new home of StartupNation Community at startupnation.mn.co
Found an investor. Need advice
DIYer
subscriber Posts: 1
As the title says I found an investor. He is willing to put up a considerable amount of cash, plus strategy, and legal counsel. He said he wants 50% equity and suggested I make it an LLC (sooner than later). After I learn more specifically how much he is willing to invest and what exactly his other offerings will be, I may or may not negotiate the 50% stake.
Two questions:
1) If he wants a 50% stake wouldn't that make the business a partnership and not an LLC? Or can LLC's be partnerships as well?
2) Why say "sooner than later" for setting up the LLC? Does the process take a while or something?
I'm in New York City if that makes a difference.
thanks!
Two questions:
1) If he wants a 50% stake wouldn't that make the business a partnership and not an LLC? Or can LLC's be partnerships as well?
2) Why say "sooner than later" for setting up the LLC? Does the process take a while or something?
I'm in New York City if that makes a difference.
thanks!
Sign In or Register to comment.