How do we structure future partner agreements (financial and voting) in a new pediatric urgent care center with three founders who are equal partners?

min read
Opinions expressed by Entrepreneur contributors are their own.
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.

More from Entrepreneur

Get heaping discounts to books you love delivered straight to your inbox. We’ll feature a different book each week and share exclusive deals you won’t find anywhere else.
Jumpstart Your Business. Entrepreneur Insider is your all-access pass to the skills, experts, and network you need to get your business off the ground—or take it to the next level.
Create your business plan in half the time with twice the impact using Entrepreneur's BIZ PLANNING PLUS powered by LivePlan. Try risk free for 60 days.

Latest on Entrepreneur