Starting a Business

If my name isn't on the filing, can I get screwed?

I'm starting a business with a web programmer and I have 51 percent of the shares. I'm just a signee of the partnership agreement, my name isn't being filed under the business. The company will never be split into more than 100 shares unless we both approve and my ownership interest will increase accordingly. How can I be screwed if my name is not on the filing?
Opinions expressed by Entrepreneur contributors are their own.
Whether you can be "screwed" or not depends on the form of business that you have. If you have a corporation (you did refer to "shares"), many states do not require that the owners' names appear on the certificate of incorporation. The rights of the owners are determined by the state's corporation law, the bylaws, and the shareholders' agreement. If you are in a general partnership, you've entered a murky area, because general partnership certificates do require disclosure of the identities of the owners. Best to review the paperwork with an attorney in your state to get the peace of mind you're seeking.

More from Entrepreneur

Are paying too much for business insurance? Do you have critical gaps in your coverage? Trust Entrepreneur to help you find out.
Get Your Quote Now

One-on-one online sessions with our experts can help you start a business, grow your business, build your brand, fundraise and more.
Book Your Session

Whether you are launching or growing a business, we have all the business tools you need to take your business to the next level, in one place.
Enroll Now

Latest on Entrepreneur

My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.

It Started As a Joke and Turned Into a Startup That Raised $1 Million in Funding