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FiveStarLaw
FiveStarLaw, Attorney
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Me and my friend form a corpoation with 50% share each. To

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Me and my friend form a corpoation with 50% share each. To come up with some money, we each sold 10 shares to one person, total of 20% of the capital. What would be her part in the corporation? The two of us wnat to be the only ownwr of the company.
Submitted: 2 years ago.
Category: Business Law
Expert:  FiveStarLaw replied 2 years ago.

*Nothing herein is intended as legal advice, only intended as general information to better help yourself.*


Hello,

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Am I correct in understanding that you owns 40 shares, your friend owns 40 shares and the other person owns 20 shares?

 

Customer: replied 2 years ago.


Hi did you get my response? With 20% of the share what are her rights in the corporation. Me and my friend want to be the sole owner of the company.

Expert:  FiveStarLaw replied 2 years ago.

No I did not receive your response - Just your last post was received. I am typing your answer now
Expert:  FiveStarLaw replied 2 years ago.

A corporation is owned by the corporate shareholders. Since you and your friend each own 40% of the stock, this means that you are each the owner of 40% of the company. Since the 3rd person owns 20% of the stock, this means that person owns 20% of your company.

I think this is what you wanted to know. Please let me know if I have answered your question or whether you would like further information
FiveStarLaw, Attorney
Category: Business Law
Satisfied Customers: 36603
Experience: 25 years of experience helping people like you.
FiveStarLaw and 7 other Business Law Specialists are ready to help you

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