What does everyone think of adding a partner and giving away sole ownership of a company? When I first started my startup I refused to take on a partner. However, I can no longer afford the programmer that I am working with as my startup is an online venture. He is genuinely interested in my startup and has contributed a lot to the technical side of everything. He has mentioned his interest in becoming a partner, but that would mean I give away some control of the company. I do not want to add him on as a partner and have him sit on his a$$ once the website is complete.
My question is this... should I add him on as a partner or find another way to pay him? I have the company set up as a disregarded entity LLC.
My question is this... should I add him on as a partner or find another way to pay him? I have the company set up as a disregarded entity LLC.
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