My question involves business law in the state of: California
-I'm currently a 60% owner of a Chapter S Corporation, my business partner owns the remaining 40%.
-The business is currently a 'single' frozen yogurt store and a trademarked name
We would like to sell 20% of the 'single' location, and retain full ownership of the trademark, rights to use the name, etc.; all we want the new investor to own is the assets and % of profit from the first store. We want this because we plan on opening new stores and do not want them to have an ownership interest in the name / development rights, etc.
-How can we set this up so the ownership rights are clearly defined?
-We think we should setup a 'holdings' chapter S corp that will own the name, and the store respectively; we'll then sell 20% share of the our sub corporation...