Can I be the CEO of a corporation if I'm a minor, or...

Asked about 1 year ago - Cuba, MO

Okay, I'm a minor and wanting to form a software development corporation. However, I'm already sure of the fact that I can't form the corporation with me as the starting CEO/President and such, so the plan was for my father to contact the correct lawyers and such, and then when it is incorporated, I would become the CEO/President, shareholder, and also among the board of directors. However, I'm a minor. I'm aware that the CEO of a corporation occasionally has to sign things under the corporation's name, so if I wouldn't be able to do that, could I still be the CEO, a member of the board of directors, and a shareholder, and is there a way for a corporation to allow a specific person to sign in place of the CEO for the corporation (such as, my father, of whom would still be in it)?

Attorney answers (4)

  1. Steven John Clausen

    Pro

    Contributor Level 16

    Answered . You have asked a number of significant legal questions. You and your father need to go to an experienced attorney to get the transaction structured properly. Please be aware that a minor cannot contract or own property. One option would be for your father to create a trust for your benefit and your father as trustee would create a company that the trust would own. He could serve as trustee and president until you reached age 18.

  2. Noah Keith Garcia

    Contributor Level 6

    Answered . You raise many interesting questions. How old are you?

    There are various ways to construct entities that could work for you. You should consult with an attorney to describe what you wants, and how to best construct an entity to suit those needs.

    I'd be happy to consult with you on the matter. You can reach me at 913-952-2930, and we can discuss further.

    If your legal issue exists in Kansas or Missouri, you may contact attorney Noah Garcia to talk about your case, at... more
  3. Leonard Komen

    Pro

    Contributor Level 15

    Answered . The answer to all your questions is "no." You can not be a shareholder, or director or officer. Someone must hold the stock in trust for you and that person can act at the officer, etc. with the Trust being the shareholder. But you can not at all act on behalf of the company.

    This comment does not create an attorney-client relationship. The law and its application by the courts is... more
  4. James Pringle Laurie III

    Contributor Level 6

    Answered . apart from the minority issues you have yourself identified, you also need to be concerned with intellectual property created, and should specifically seek out an intellectual property attorney in your jurisdiction, who can also advise you about the trust and incorporation issues.

    This is not legal advice, no attorney client relationship will arise out of this communication, and none of the... more

Can't find what you're looking for? Ask a Lawyer

Get free answers from experienced attorneys.

 

Ask now

28,181 answers this week

3,078 attorneys answering

Ask a Lawyer

Get answers from top-rated lawyers.

  • It's FREE
  • It's easy
  • It's anonymous

28,181 answers this week

3,078 attorneys answering