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Irwin Law
Irwin Law, Attorney
Category: Business Law
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Experience:  30+ yrs. representing small business, real estate, probate
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Hello, My business partner and I have about 50% shares each

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Hello, My business partner and I have about 50% shares each in our new business. He is electing himself Director and wants me to be the President when we are incorporating our entity in Delaware. is it better for me to be a President or Director? Thanks

Hello and thanks for submitting this question. A corporation is controlled the Board of Directors. The Directors elect or appoint the various officers. In a two person corporation. Both of you should be Directors, and then you both decide who will serve as the President, Secretary and Treasurer. The President and Secretary should be different people. So either can also serve as the Treasurer.


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