Legal Question in Business Law in Florida

I came up a social network that is really unique to the market. I got a group of friends together to make it happen, right now their are 3 people in the team including me. The problem is my two friends are from different countries, one is from India, and the other is from Africa. I have an LLC created already but I am the only member; making me the managing member. My question is what is the right way and legal way to include them in the LLC and give them equity? Making them part owners of the company?


Asked on 1/09/13, 12:35 am

1 Answer from Attorneys
Junilla Sledziewski Statman, Harris & Eyrich

You should create an operating agreement that carefully spells out the terms of your agreement with your friends. You will want to include how much money/services/property etc. that each person is contributing, what will happen if one member wants to get out, etc. An attorney can give you guidance on what you need to include in the agreement.

You will also need to amend the Articles of Organization with the state to include the other members.

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Answered on 1/09/13, 6:25 am


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