I am about to register a renewable energ...

Asked by Anonymous on 22-01-2022 03:50:40
Question posted in the Intellectual Property Law category relating to Western Cape

I am about to register a renewable energy start-up with 2 of my colleagues as partners and would like to know and understand if I need to have everybody sign a simple memorandum of understanding, or a contract, or set up shares before we get into this together. 

I am the one bringing in the idea that will constitute our core business offering and I am also putting money toward expenses. They will be helping technically and I  have offered them a 10% stake (each) in the company for the contribution they'll be making.

I would like set all these details in stone before we start. Please could you advise me?

If you would like to view the entire answer, you will need to either login or register a FREE account.


DISCLAIMER: Advice or answers from Lawyers on South African Legal Advice are not substitutes for the proper advice of an Lawyer. South African Legal Advice is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Lawyer who assists with your question is not your Lawyer, and the response above is not to be considered to be legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains. The responses above are from individual Lawyers, not South African Legal Advice. The site and services are provided “as is”. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service.