What is the best way to transfer stock to a third partner and still maintain control of the company?

Question

I own 51% of the stock in my company with my current partner owning 49%. We are adding a third partner for our overseas operations. Is there a way to issue 1/3 rd of the stock to him and still maintain control of my company as I have now?

Answer 1

Sure...But it will essentially come out of the other partners share...
You issue new shares and you get 50% of these new shares...But I'm sure your present partner will not be happy about it.

The other way is issue a different class of shares...You can create a class that has ownership rights but no voting rights...But note even then if you do something really wrong he can still force you to act properly.