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Dimitry K., Esq.
Dimitry K., Esq., Attorney
Category: Business Law
Satisfied Customers: 1611
Experience:  Run my own successful business/contract law practice.
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how can I give shares of my company to someone ? I have started

Customer Question

how can I give shares of my company to someone ? I have started a new company and have acquired several medical contracts with the help of a friend whom has a no compete clause in there contract so were unable to be part of my corp papers which carry 60000 shares but now that we have made few hundred thousand he wants to be a share holder but not owner of company on paper how can I give them 29000 shares ??? thanks
Submitted: 4 years ago.
Category: Business Law
Expert:  Richard replied 4 years ago.
Welcome! My goal is to do my very best to understand your situation and to provide a full and complete answer for you.

Good morning. Is he still under his non-compete? And, when you say he wants to be a shareholder, but doesn't want to be an owner on paper....is it really just a percentage of profits in which he's interested? Thanks.
Customer: replied 4 years ago.


Yes still in a no compete clause.


I suffered a heart attack and If something where to happen he need to be able to step in so that no one else in my family can.


 


I basically walked in the door knowing nothing of this business but he was in a position that allowed to get the contract which has since turned into several other contracts with different healthcare networks


 


Its been his baby Im just the face behind it

Expert:  Richard replied 4 years ago.
Thanks. Given the various issues involved here, including the risk of you being on the wrong end of a lawsuit for conspiring to defraud the company with which this person has a non-compete, I'm going to opt out in favor of another expert. Please do not respond to this post as it will only slow the process of another expert picking up your question. Take care.