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Attorney Arcadier
Attorney Arcadier, Attorney
Category: Business Law
Satisfied Customers: 1106
Experience:  Contract questions and Incorporation questions answered.
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I formed an LLC with two other partners. We would like to involve

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I formed an LLC with two other partners. We would like to involve a couple individuals as advisers. Their role would be just to dedicate a couple hours a month to the company, to give advice and share their knowledge. I understand this is common for start-ups. What is the proper way to distribute shares to these individuals? What kind of agreement do you suggest we implement? Eventually we would like to add additional advisers. Thanks in advance.
Submitted: 5 years ago.
Category: Business Law
Expert:  Attorney Arcadier replied 5 years ago.

Attorney Arcadier : llc interests are allocated through membership distributions which is simply a contract delineating how much in percentage someone gets. Since you will be distributing this often, you need to have a standard agreement that distributes based on work provided by the individuals.
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