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Hi there,

A question on this.

Basically I have been unemployed for a year looking for work in the marketing sector.

I have also set up my own business early in February which I work on in...

So if you sent them the equity without an agreement, you just gave them the equity with no strings attached.

YOU NEED AN ATTORNEY. You're messing this up trying to do it on the cheap.

A...

I fully agree with MyITGuy! This deal has already gotten too squirrely. You will likely mess up your creditworthiness in the process.

Find something else with fewer landmines!

My best in your...

Equity is a portion of ownership of a corporation. There's nothing "personal" in that.

So what does that mean regarding a "personal guarentee"? and in particular my case?

Can a personal guarentee be used for equity?

I transferred the parents with 6% of company with shares equalling their total amount.

No loan has been discussed apart from verbally..


Just...

Then I would highly suggest you speak to your attorney/accountant to see what your risks are.


No - Thats the point of a personal guarantee. You are personally liable for these funds/amounts...

Also I am kind of interested in this whole personal guarentee thing.

The problems happened when his other company which had cashflow issues got money and one director became major shareholder a...

This is just another concern to me...technically the split isn't equal (And ideally should never be equal...someone has to make the decisions otherwise you could end up in a stale mate), your partner...

They can also take it against you as being the recipient of a breach of confidentiality concerning their future plans and force you to get out of the market altogether.

I'd get out of the...

Do these other online businesses sell the same things or offer the same things you're looking to sell with your online business?

So let me see how I can word this to make it easy for you....

That doesn't sound like a loan, it sounds like dividends that are required every month, which may not be in the best interest of the business.

There's not enough data here. What kind of business...

Hi there,

I just wanted some advice on some things regarding a personal guarentee.

I went into business with a friend because he had an opportunity. We looked for finance and we had a few...