Friend wants vested interest in my business

[hotpepper1]

What is the name of your state? Florida

We have a friend who has offered a substantial amount of money to put towards our family owned business. He sees the potential for our company to grow and he has the experience that we lack to take our business to that next level. However, we're concerned that this type of transaction could give him too much control over our business. I have to think that a lawyer would be able to draw up a contract which would protect us from that happening, correct?What is the name of your state?

 

[seniorjudge]

What is the name of your state? Florida

We have a friend who has offered a substantial amount of money to put towards our family owned business. He sees the potential for our company to grow and he has the experience that we lack to take our business to that next level. However, we're concerned that this type of transaction could give him too much control over our business. I have to think that a lawyer would be able to draw up a contract which would protect us from that happening, correct?What is the name of your state?

Q: I have to think that a lawyer would be able to draw up a contract which would protect us from that happening, correct?

A: Yes and the sooner the better.