R
RV
Guest
I am setting up a corporation (LLC) with 2 other people. One partner has 6 figures of previous unpaid debt (IRS, child support, you name it) but he is vital to the business. I cannot afford to have outside entities forcing a valuation of the business and forcing a sale of his shares. Is that a risk? How can the remaining partners protect ourselves? I've thought perhaps having a long term contract and pay him a share of revenues -- no ownership.