Legal Question in Business Law in Washington

You can offer whatever the two of you agree upon. It depends upon what the other person is going to contribute to the business, whether in terms of capital, expertise, a book of business, whatever. If you own all of the business, whatever is left is still yours.

A word of warning; business partnerships are more difficult to keep running than marriages are.If you plan to bring someone into your business, talk to a lawyer about setting things up properly for you. Is your company the right entity? (If you are a sole proprietor now and bring someone in, you will have a partnership. There are some incredible risks that come with that. You might want to consider forming a registered entity, such as an LLC or an S corp. If you decide a partnership is for you, at least educate yourself as to the risks.) Also, an attorney can help set things up so that each party is clear about what they need to contribute to the business, and also each owner is protected if the cooperation doesn't work out and you need to each go your separate ways.

As a franchise attorney I can say it's really what you negotiate with the other person. You have to consider what you've already brought to the table versus what they will (or might) bring. It may be better to set up a corporation or LLC with rights that vest over time, assuming certain goals are achieved. Consult with a good business or franchise attorney in your area for specific advice.

Mr. Franchise - Kevin B. Murphy, B.S., M.B.A., J.D.

Franchise Attorney

Franchise Foundations APC