Q: We have someone who is providing open ended capital. We want to give him 15%equity. What type of agreement would be give
He hasn't asked for equity but we want to give him equity and make him a limited liability investor. How do we do this? He will continue to provide money so there is no specific amount to equate to us giving him 15 percent. We currently have an established partnership for the company already so to give him the equity what type of agreement to we give him?
A: This is an agreement your lawyer will have to draft to protect both you and him.
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