becoming an rmo and staying in business for yourself

[evelooloo]

I currently hold a c-36 plumbing license. I am interested in becoming an rmo and owning 20% of an established plumbing company. I would also like to continue operating my business which i'd like to incorporate and offer the owner of that business that I will become the rmo for a percentage of my business. what is some advice on how to enter this relationship and protect myself. I would like a signing bonus for becoming an rmo for his company and also acquire 20% of his business so that I can legally run my existing business (as well as giving him 20% ownership of my business that we will be incorporating) I also want him to pay all of the fees to the cslb. I also read about hold harmless agreements and i'd like to also have one of those. I am asking for a salary that will increase over 3months, then 6months, then 9 months then a year - for the first year. what can I do?

 

[quincy]

I currently hold a c-36 plumbing license. I am interested in becoming an rmo and owning 20% of an established plumbing company. I would also like to continue operating my business which i'd like to incorporate and offer the owner of that business that I will become the rmo for a percentage of my business. what is some advice on how to enter this relationship and protect myself. I would like a signing bonus for becoming an rmo for his company and also acquire 20% of his business so that I can legally run my existing business (as well as giving him 20% ownership of my business that we will be incorporating) I also want him to pay all of the fees to the cslb. I also read about hold harmless agreements and i'd like to also have one of those. I am asking for a salary that will increase over 3months, then 6months, then 9 months then a year - for the first year. what can I do?

evelooloo, what is the name of your state or, if not in the U.S., what is the name of your country?

 

[FlyingRon]

Those terms sound very much like he's in Canada.

 

[TigerD]

Those terms sound very much like he's in Canada.

My guess was California. C-36 is a California plumbing trade license. And "cslb" likely refers to the California State License Bureau. An RMO is a "responsible managing officer".

Beyond that, the scope of the op's question seems to be beyond the capability of this forum. He is seeking complicated business planning and indemnity document drafting that will require the assistance of a licensed California attorney.

DC