November 3, 2014
People are getting smart about creating communities online. If you can get people to join, and you provide a benefit at a reasonable cost, chances are you’ll be on your way to building a nice annuity stream. The problem comes (as it does in other kinds of businesses) when the founders want to “sweeten the pot” by offering miniscule ownership interests in the company. I don’t recommend it, and I’ll explain why: Q.: My business sells memberships. There is a lifetime membership option available that is rather expensive, but I thought that if I included one share of the business in this option, it might make it more appealing. Can I include a share of the business in one of the membership types and is this legal? A.: This can be done legally, but you run into more complications than it’s worth. Not a great way to go. First, unless you have a locked-in, airtight plan to go public (or have a horde of dedicated followers to the “cause”), the dollar value of your one…
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I know first-hand that running a knowledge-based service business has unique challenges. It’s so much easier when you have an advocate in your corner. Over the past 25 years, I’ve worked with thousands of New York business professionals who want a legal advisor to guide and support them as they navigate the business world.
With wide-ranging experience as a business attorney, strategist, and media authority, I bring the added power of a business lens to the legal issues my clients are facing.
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