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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Legal
Satisfied Customers: 113375
Experience:  JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
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My company has 60,000 authorized shares and 50,000 are

Customer Question

My company has 60,000 authorized shares and 50,000 are unissued.
JA: Because laws vary from state to state, can you tell me where the company is registered?
Customer: I purchased 10,000 shares. In Michigan, How much of the company do I own?
JA: Have you talked to a lawyer yet?
Customer: No
JA: Anything else you think the lawyer should know?
Customer: I am the Trustee of 10,000 shares only. It is a construction company
Submitted: 6 months ago.
Category: Legal
Expert:  Law Educator, Esq. replied 6 months ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
You own 1/6 of the company, since the company retains 50,000 shares. So as owning 10,000 out of 60,000 you own 1/6 of the business.

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