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  1. #1
    Join Date
    Oct 2009
    Posts
    11

    Default Limiting Who Can Own or Inherit a Share of a Business

    My question involves business law in the state of: New Jersey

    I'm planning to help out a friend and invest 100% in her small business for a small fee until such time when she's able to buy it back from me. I don't have time however (or interest) to get involved in anything operational. The simplest thing would be to make her an LLC partner but she's married and I don't want to deal with a possibility of her husband claiming 50% of her share down the road. Could she somehow be just an employee of my LLC and have all the power to conduct business on her own so I won't have to run around and deal with any paperwork etc.?

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Can an Employee of an LLC Represent It in All Situations

    If you don't want to risk being partners with your friend's husband, you will have your business lawyer draft up appropriate contractual language restricting alienation of a member's interest and providing for a buy-out in the event of the other member's death.

    If your friend is willing to be an employee of a LLC that you own, then there's no reason she can't agree to that arrangement.

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