businessspice
New Member
I have bought my way into a corporation as an equal owner. We currently have a signed contract but have yet to add me to the corporation or distribute shares. The corporation is a husband and wife who are both directors and officers (although the wife is not a part of the business). We have currently got the form in the mail to add me as either a director, an officer or both. Right now, the husband and wife are both directors AND officers. If I was to become a director and officer can they simply vote me off the board down the road since they are 2/3 vote on the board? In order to make this fair, should I ask that only me and the husband be directors and his wife be only an officer? Should I add my wife on as an officer to "even it out"? What is the best way to set this up so I am equally protected? I have $50,000 invested and a lot of time and want to make sure that 4 months from now they can't just take a vote and remove me.
To equally protect myself, besides distributing shares and adding me as a director is there anything else I need to do to make me an equal partner? I remember seeing on the back of our city business license a place to add directors to the license, should this be updated as well?
Thank you so much for your help.
To equally protect myself, besides distributing shares and adding me as a director is there anything else I need to do to make me an equal partner? I remember seeing on the back of our city business license a place to add directors to the license, should this be updated as well?
Thank you so much for your help.
