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by aub3bhat 3225 days ago
A CEO, CTO, CFO, CXO etc. are all "employees", technically an employee is someone who works for the company (unpaid work also counts) the company.

E.g. You can have 100% equity, be sole shareholder, pay money to a manager/employee to conduct work/business. You can even derive a dividend from the said business. however you cannot "engage in business" which means that you cannot write code whose IP gets assigned to the company. You also cannot have day-to-day management responsibilities. If I remember correctly planning a business and/or attending meetings of board of directors is allowed.

At end of the day shareholding pattern trumps everything else.
1 comments
user-on1 3223 days ago
100% equity would mean A would have 100% control right?

Then nobody can fire A. Hence 49%.

Can A have 100% ownership and incorporate a COMPANY and then assign BOD to COMPANY Where BOD have control over A but no ownership in company?

In this config can A just hire a employee D and pay him minimum wage according to DOL.

https://www.dol.gov/whd/minwage/america.htm

Would this setup work?

link