How do we structure future partner agreements (financial and voting) in a new pediatric urgent care center with three founders who are equal partners?
Enter the Project Grow Challenge presented by Entrepreneur and Canon USA for a chance to win up to $25,000 in funding for your business. Deadline is Sept. 15 2015. Click here to enter.Professional limited liability companies, limited liability partnerships and professional corporations/associations can permit you to structure different tiers of ownership interests.
You can create one class of ownership interests that controls the management and profits of the business, while having other classes that share a lesser percentage of management and profit. This would enable the founding partners to receive the recognition (and compensation) they are seeking, while carving out a portion of the pie for other partners to share.
However, the different legal forms have different requirements that depend on the laws and legal forms of business available in your state. Be sure to consult with an attorney in your state who is familiar with professional practices.