sunshinee50
Member
What is the name of your state? PA
I started a recording business with my fiance last year. Actually the business hasn't taken off yet, but it will. Have alot of people interested. The deal is this. I agreed to finance the start up of the business and he would learn the business and do everything involved. Once we got a few clients and he brought in what I paid to start it up then I want to sell the business to him since it was his idea, name and all. I did not put his name on the business at all because I was covering myself (bad relationships in the past) and he had no finances to help at that time. How do I sell the business to him, make him the owner with me being a silent partner? I realize that this probably will mean involving a lawyer but was curious as to how it is done.
I started a recording business with my fiance last year. Actually the business hasn't taken off yet, but it will. Have alot of people interested. The deal is this. I agreed to finance the start up of the business and he would learn the business and do everything involved. Once we got a few clients and he brought in what I paid to start it up then I want to sell the business to him since it was his idea, name and all. I did not put his name on the business at all because I was covering myself (bad relationships in the past) and he had no finances to help at that time. How do I sell the business to him, make him the owner with me being a silent partner? I realize that this probably will mean involving a lawyer but was curious as to how it is done.