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Compliments on your planning.
INTEREST IN THE COMPANY: You bring your management and business formation expertise to the corporation while the other investors bring funding/sweat equity and capital to the corporation. Those roles should be clearly discussed and spelled out in the formation governance documents for the corporation. A value can be placed on the sweat equity/management contributions as compared to the pure capital/monetary investments.
ROLES: Some investors do not want to be involved in the daily activities or governance of the company. You will need to determine that with your investors. You will want to decide whether the financial investors serve on the board of the company to govern it. You may certainly prefer that role for them rather than day to day management. You would need an executive, you as a managing member, president, Chief Executive Officer or Chief Operating Officer, however, if you serve as the managing executive, your monetary investors, if they are to be members of your governing board, could be Chair of that Board. An early candid discussion of roles should help allocate responsibilities and avoid later issues. Your investors could also be in the background serving only as financial advisors and not as board members or officers. They would still have their roles as investor/owners.
The allocation of the units (if an LLC, discussed below) or shares (if a C or S corporation) should be discussed and decided at the outset based on the contributions each of the owners bring to the company. Agreement at that early stage will avoid later problems. You may want to engage your lawyer in that dialogue to help mediate a fair ownership allocation and to listen to prepare the agreement and governance document of the company that would address later withdrawal of owners or dissolution of the company. Timing of withdrawal requests can be addressed under Minnesota law in an effort to avoid harming any ongoing business.
You may also find it helpful to contact SCORE, Counselors to America's Small Business at: http://www.score.org for free face to face locally in Minnesota or online counseling to assist your planning process. SCORE experienced volunteers in Minnesota or elsewhere can help you with your business plan, start-up and formation activities and other aspects related to starting your corporation.
That said, depending on the form of corporation you intend to start, your investors would either be unitholder/member owners if you form a Limited Liability Company (LLC) or stockholders if you form either a C or S Corporation. The contributions of the investors should be clearly identified in the formation agreement that your local attorney can help you draft. (If you do not have a business/corporate lawyer you may want to contact the local bar association lawyer referral service to identify local lawyers you can interview as to experience and fees in similar corporate formation matters.
Following is a direct link to the Minnesota Secretary of State to assist and guide you in starting your business:
Your formation documents, especially your bylaws (if a C or S corporation) or Organization governance documents if you form an LLC, should clearly provide for ownership rights and responsibilities. For example, those documents would state how the owner/investors would withdraw from the company.
Following is an example of an Operating Agreement for a Minnesota LLC that address withdrawal of member/owners' interests:
I know I have provided a lot of detail, however, hope it is responsive and helpful to your planning. If you would like further clarification, please let me know. Best wishes.