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that leave the last one? I mean, what positions can he hold? Or can u not title the previous person as executive director?

2007-05-20 04:02:53 · 4 answers · asked by Serendipity 2 in Business & Finance Small Business

4 answers

Titles that can legally be held are determined by how the company is incorporated. For example, in an LLC you are either a Member or Manager. In a sole proprietorship, you are Owner. In a S-Corp or C-Corp, titles are often President, CEO, CFO, or COO. My advice would be to focus on the growth of the business, not a title. If you have 50% of the company and the company is making $1million per year you could title yourself Chief Dishwasher and still make $500K. You could also be President of a company that makes $0 and still be broke.

2007-05-20 05:22:53 · answer #1 · answered by tom m 4 · 1 0

First, forget the title. Is the business registered as a Partnership? If so, change it ASAP to an LLC or s-Corporation. In a partnership, if you get sued, your personal assets at at stake.

As for the title, they mean nothing. I have a business "partner" (we have an s-Corporation). We both use the title "managing partner."

2007-05-20 08:56:16 · answer #2 · answered by jdkilp 7 · 0 0

You can have a president and vice president..... But beware, partnerships are very hard. Even if you think you know this person very well things can go sour very fast! Take it from me, I was involved in a 50/50 business and i got screwed!

2007-05-20 04:16:32 · answer #3 · answered by Anonymous · 0 0

Chief executive officer, CEO, and chief operations officer, COO.

2007-05-20 04:12:02 · answer #4 · answered by professorc 7 · 0 0

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