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

Is there a way around having my name on the articles of Inc?

MOsalesMOsales subscriber Posts: 1
edited January 2008 in Business Planning
In the process of forming a corporation and wanting to keep my involvement on the DL until it gets up and running.
This is simply b/c it may be considered a conflict of interest with my current job.  I don`t have a no-compete clause at my current job and this company will cover a different geographic area.   I`d rather just avoid having the conversation with my current employer.
I`m also at a stage in my life where I`d rather not lose my job.  The new LLC has some major potential though!
What to do? what to do?


  • Options
    robertjrobertj subscriber Posts: 0 Member
    I can give you the name of an excellent attorney who specializes in these kinds of issues.
    A few $$ now can save you a world of headaches (and $$$$) later
  • Options
    crazydiamondcrazydiamond subscriber Posts: 1
    Yeah, robert is right - a lot of attorneys keep companies on the shelf that are incorporate under an attorney`s name. When a client needs a vehicle, they will take it off the shelf, and file fresh notices to update director`s and officers names, and transfer ownership to you.Having said that, such companies where I come from are typically numbered companies, and so if you want a specific name, you need to do a search for its availability, and either register it as a trade/operating name, or amend the articles of incorporation. Check your jurisdiction, since where I come from, not only are there set time lines to file such D&O notices, but that information is publicly searchable.Having said that, are you sure that your employer routinely does searches for newly incorporated businesses looking for their employees names? Kinda paranoid are they?!Usual IANAL disclaimer!!Mike
  • Options
    daleyfla99daleyfla99 subscriber Posts: 1
    Incorporate in Nevada.  They have some of the best privacy laws in the US.  Type Nevada Corporation into a search engine and do your homework! You may have to register to do business in your home state with the Nevada Corp. as the entity.  Do not attempt to avoid any state and federal taxes due.   Collect and file all applicable taxes for your state. 
    IANAL either, you may wish to consult your local attorney.
    Good luck.
  • Options
    StartupLawGuyStartupLawGuy subscriber Posts: 2
    If you`re currently working at a job and you`re investigating other business opportunities you have to be careful of breach of agency issues.  If your employer wanted to, he or she might be able to sue you for moonlighting...the damages available can vary but in some instances the employer can get everything you`ve earned through the other business.
  • Options
    spungeyspungey subscriber Posts: 2
    Thanks Clint,
    I`m sort of in that situation.  I had clear agreements with my employer that gave me this freedom of action (and kept my IP out of the employer patent mill.)  Now I`m looking into forming a small business to do on the side, and the employer just got bought.  Do I need to renegotiate to make sure my IP and independent action rights are protected?
  • Options
    StartupLawGuyStartupLawGuy subscriber Posts: 2
    Generally, when one business buys another, the purchaser is still liable on the contracts of the target.  That is why you sometimes see in contracts the recitation that the benefits or obligations of the contract inure to the contracting parties "heirs, successors and assigns."  To know for sure you`d have to look at the contract and you`d need to know whether your former employer was purchased in an asset or stock deal.
Sign In or Register to comment.