How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Law Educator, Esq. Your Own Question
Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Business Law
Satisfied Customers: 110521
Experience:  All corporate law, including non-profits and charitable fraternal organizations.
Type Your Business Law Question Here...
Law Educator, Esq. is online now
A new question is answered every 9 seconds

My partner and I are setting up a 50/50 s-corp. We agreed that

Resolved Question:

My partner and I are setting up a 50/50 s-corp. We agreed that he will be the President and I will be the Vice President, just because you can not have two presidents. I feel that makes our positions unequal, althought we bring the same amount of $ and experience to the table. What can I do to have equal ground within the corp with my partner.
Submitted: 6 years ago.
Category: Business Law
Expert:  Law Educator, Esq. replied 6 years ago.
To set up equal ground you address this in your bylaws of the corporation when addressing powers of each shareholder, also you make provisions in there for any means to break ties when there is a disagreement between the shareholders. The bylaws can outline all the duties of each member and this is where you can make those duties equal, the bylaws can also provide that the title of president and vice president change over every year.

I hope you found my answer helpful, please click on the GREEN ACCEPT button above for my answer. This is necessary for me to be paid for my work and so that I can get credit for assisting you. Your question will not close, and you will still have the opportunity to follow-up if needed. Leaving a bonus and positive feedback is not required, but doing so is certainly appreciated!

If you have additional questions, please keep in mind that I do not know what you already know or don't know, or with what you need help, unless you tell me. Please consider that I am answering the question or question that is posed in your posting based upon my reading of your post and sometimes misunderstandings can occur. If I did not answer the question you thought you were asking, please respond with the specific question you wanted answered.

Also remember, sometimes the law does not support what we want it to support, but that is not the fault of the person answering the question, so please be courteous.

There can also be a delay of an hour or more in between my answers because I may be helping other customers or taking a break.

You can always request me through my profile at or beginning your question with “For PaulMJD…”

Customer: replied 6 years ago.
Since we are just setting up the s-corp and mypartner nominated himself as the President and Chairman of the board and I am the Vicepresident and Secretary.

Is there anything I can do to gain more ground titlewise? Can I request that he is the President and Secretary and I am the Vicepresident and Chairman of the board?
Expert:  Law Educator, Esq. replied 6 years ago.
This is something that is a matter of negotiation between the two of you, but it would be a fair proposal for one of you to be president and the other to be chairman of the board. If you are not able to agree here at this stage of business you are going to need to reconsider getting involved in this venture as it is an indication of things to come in the future. Again, you can negotiate for anything you like here and you also better make sure your bylaws are set up to address all of these matters and how disagreements are handled as well.
Law Educator, Esq. and 6 other Business Law Specialists are ready to help you

Related Business Law Questions