Yes. This is possible. Assuming the foreign owner would like to operate through an LLC, you would need a well drafted LLC operating agreement to protect both of your rights. We handle this type of work, but so do many business attorneys in NY. Please feel free to contact us if you would like to discuss a possible representation.
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Lots of ways to do this. Company could own 50% of the company and you could own 50%. Anyway you look at it you need some form of partnership agreement to spell out who gets what and what happens in various situations. Here is an article we wrote on business entities. We would be happy t help you.
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