Company is offering me co-ownership, no stock, just percentage of profits. However, to partake in this, I need to allow them to use my name and list me as co-owner. Is this worthwhile?

Hi PF,

My boss recently approached me and ask if I would like to partake in obtaining a share of the companies profits through co-ownership of branch locations, meaning I allow them to list my name as the owner for certain branch offices in return for a percentage of the profits for these locations. Is this normal and is it worthwhile?

Here is what I was able to find out about the deal:

1. My name will be listed as co-owner for four branch locations

2. I will only obtain a percentage of the profits at these locations

3. As stated within the contract, I would have no personal liability

4. If the company suffers a loss, I am required to forfeit my profits up to my total amount earned

This sounds too good to be true and I need your advise to help me determine if this deal is worthwhile. Please help.

Also, if I were to proceed with this, what type of lawyer should I obtain to review the contract in detail? Thanks in advance.

Submitted October 17, 2017 at 11:45PM by TA878787878788 http://ift.tt/2kWGSqB