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Old 12-27-2017, 11:43 AM   #1
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Need Advice.


I am a GC and a company wants me to be part owner so my license can be used for solar and remodel work with their company. How do I do this legally?
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Old 12-27-2017, 11:55 AM   #2
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Re: Need Advice.


Quote:
Originally Posted by Racinbound View Post
I am a GC and a company wants me to be part owner so my license can be used for solar and remodel work with their company. How do I do this legally?
More details are needed on your situation but my advice would be to open up a 2nd company with joint ownership, completely separate from what you've established already. The additional annual costs of owning 2 companies is far outweighed by the safety that you won't lose everything you've built if one of a pile of things went wrong.

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Old 12-28-2017, 08:04 AM   #3
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Re: Need Advice.


Tell them to let your accountant look at their books so you can see what shape they are in financially.

After all, if you are going to be part owner, you don't want take on a part of a big debt.
At the same time, you want to see what kind of profits that you will be getting a piece of.
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Old 12-28-2017, 09:44 AM   #4
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Re: Need Advice.


In CA you'll want an attorney to draw up an agreement. As the GC you will have full liability for any work done under your license.

My first question in this situation: why don't the other guys have a license?
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Old 12-28-2017, 11:53 AM   #5
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Re: Need Advice.


Hmm, sounds to me as if the dude wants to run his biz off YOUR GC license.

Proceed with caution. Or jump in blind and risk getting burned.
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Old 12-29-2017, 09:07 AM   #6
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Re: Need Advice.


They do solar and remodeling without a license? How big of a red flag do you need to see?

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