B
Billy White
Guest
I am an executive at a financial services company with a dilemma.
I would like to start a business while working for my current employer. The details of this business are as follows:
i) A contract would be written with an outside partner, allowing that partner to sell our product.
ii) The contract would not be signed by me and would not be biased towards my partner (i.e. a standard contract)
iii) I would not receive money from this venture until I left the firm, although I will have ownership in the firm.
iv) I plan to quit and work for this "C" corp when it makes financial sense
Questions:
i) Is this illegal? What laws would I break? If so, possible penalties?
ii) How can I structure this so that I am least at risk?
I would like to start a business while working for my current employer. The details of this business are as follows:
i) A contract would be written with an outside partner, allowing that partner to sell our product.
ii) The contract would not be signed by me and would not be biased towards my partner (i.e. a standard contract)
iii) I would not receive money from this venture until I left the firm, although I will have ownership in the firm.
iv) I plan to quit and work for this "C" corp when it makes financial sense
Questions:
i) Is this illegal? What laws would I break? If so, possible penalties?
ii) How can I structure this so that I am least at risk?