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Jane Doe Deer
Jane Doe Deer, Attorney
Category: Business Law
Satisfied Customers: 3864
Experience:  Atty since 1986. Real estate, tax, and other business law questions
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I want to take my business to the next level. I want to ...

Customer Question

I want to take my business to the next level. I want to form five subsidiary companies with a core company at the center. Picture a pie with the core company at it's center. Each subsidiary will be a stand alone entity with it's own management and CEO and management should have the option of an ownership stake in that company. All will report to the core company with P&L numbers, and the core company's board would have hire and fire control over the subsidary's CEO. The core company should be set up to be able to offer stock ownership and the core company should own controlling interest in the subsidiary companies with me as it's CEO and majority owner. Everything should be set up in such a way that the core company could go public at sometime in the future.

What is the best corporate structure to use ? Can I use a combination of different type of corporate structures such as C-Corp with LLCs ? Should I offer some type preffered stock in the core company ?

I am in Alabama.
Submitted: 6 years ago.
Category: Business Law
Expert:  Jane Doe Deer replied 6 years ago.

Hello and thanks so much for writing to me, Mr. or Ms.Customer

Are you kidding me? You're coming up with plans like the one you suggest and you're going to this site for answers? Don't get me wrong - this is the coolest, most fun website I've ever seen, and it provides a wonderful service - but if you're talking structure like you're describing, you need to hook up with a corporate law firm. You don't need someone inhouse - but you set up a contract with the law firm with your goals, expectations, and rate of pay. Set a budget per month that you can afford. Let the law firm help you grow. You'll need to get that all set up with their help - they'll need a tax attorney and corporate attorney and perhaps an accountant to set it up for you. Expect to pay some big money if you want it done right.

If my answer has been helpful to you, please click "ACCEPT" so that I may be paid. This is the only way that I will receive compensation for the work performed. Please consider clicking "BONUS" as a nice way of saying "thanks" for a job well done. Clicking "FEEDBACK" to leave your positive comments is always greatly appreciated.

The information provided is general in nature only and should not be construed as legal advice. By using this forum, you acknowledge that no attorney-client relationship has been created between you and Merry A. Kogut or Key Peninsula Law in Washington.

 

Customer: replied 6 years ago.
I am intelligent enough to realize that I will need to have a group of professionals physically set up the corporate structure needed. However, before I waste countless hours and more importantly money on these professionals, I would prefer to have the general concept of what is the best structure pre-determined. I like to take a page from Ross Perot's playbook and set up the deal, then call into the room all the lawyers and accounts and tell them what the deal is and then have them put it down on paper. If this site contains no one that has the expertise I need then I will continue to search elsewhere. It is the concept I am looking for, not the actual creation. I hope this helps to explain.

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