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I'm planning on creating a small business with 2 other friends that are willing to help out and invest in the idea. I'm wondering what the best way to structure the business is in this case. I've been looking at multi-member LLCs as a possible option but, again, I'm new to this and unsure what the best way is. Do you have any experience on this or any advice you want to share? I'm doing this in Delaware if that helps.
 

Sols

Staff member
Mentor Group Gold
The question in the topic is about dissolving which means to terminate a company, but then the question in the post seems to be about forming an LLC.

Could you please elaborate a bit on what exactly you are looking for?
 
The question in the topic is about dissolving which means to terminate a company, but then the question in the post seems to be about forming an LLC.

Could you please elaborate a bit on what exactly you are looking for?
Oh! I got a mistake while I was writing about dissolve a Corporation and I was thinking of how to start an LLC.

So, here is the result, the title was wrong! I have formed my Corporation for 2 years and till now I don't think I could handle it anymore. I and some of my team members decide to dissolve it.

I'm looking for a way to dissolve my Corporation in Delaware and I also want to open the LLC here.
 

RachelNg

New member
You can go with LLP (Limited Liability Partnership) for this case, but the role of each of the partner has to be specify. Partnership need clearly defined roles and what each will bring to the startup and how decisions will be made and how profit we will be split. This should be in an agreement. If you think LLP is not for you, consider Private Limited Company and all three become directors with shares as per your agreement.
 

uplana

Corporate Services
Mentor Group Gold
I'm looking for a way to dissolve my Corporation in Delaware and I also want to open the LLC here.
So why not ask the agent that setup the company for you to help you with both or find some of the many agency service around in Delaware to help you with both. I believe it can't cost much!
 
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