Legal Question in Business Law in Georgia

If I have a Business what do I need to do if I have some one financing part of the business but not a partner what kind of percentage do they get and what kind of contract needs to be drawn up


Asked on 4/01/11, 10:26 pm

3 Answers from Attorneys
Scott Riddle Law Office of Scott B. Riddle, LLC

Your questions are not appropriate for an internet message board, and it is not remotely possible to answer here. You need to see a lawyer who handles small business matters.

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Answered on 4/02/11, 3:18 am
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

If someone is giving your business money, you need to retain a business attorney. If you lack the funds, close the business until you have the funds, as mistakes can be catastrophic disasters (and expensive). Depending on what you do, you may need anything from promissory notes to deeds to SEC securities registrations.

I repeat: get a lawyer.

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Answered on 4/02/11, 3:40 am
Glenn M. Lyon, Esq. MacGREGOR LYON, LLC, Business Attorneys

Giving smeone ownership in your business is a matter of negotiation. What are you willing to give? What are they asking for? If it is simply a loan, they would most likely require a promissiey note. If they are obtaining ownership, that is much more complicated.

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Answered on 4/02/11, 4:24 am


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