My company just had its final round of funding, and we reached our goal quite easily. The time has come to turn pledges into cash.The business is poised to do very well, and we are turning down outside investment. The founders of the company are opening up 40% of the shares to friends and family of the company. Company operators are given first option to buy. On top of my sweat equity, I'm investing cash as well. Im bringing some friends on board, with each friend investing a. different amount. My business partner and I (we are both operators within the company as well) will own the most equity (about 70% of the total shares owned by the LLC), and around 10 of our friends will own the remaining 30%. In total, the LLC will own about 3% of the company.
My main question is, if my business partner and I want to form another company under the umbrella of the LLC, but separate from the other investors, how would we go about doing that? Do we form another LLC, or some different kind of company? I'm a total noob when it comes to this stuff, and while our CEO is a financial whiz, he's got so much on his plate right now I'd like to try to do this on my own before asking him to help me out.
I know I've only given a brief description of my situation, but I'm happy to elaborate for anyone interested in offering some advice. What other general pitfalls should I be aware of before starting this LLC as a way to invest a few hundred K of my friends and my money? As the primary shareholder and founder of the LLC, what would my legal responsibilities be, if any?
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