Okay, so myself and two collegues are setting up an engineering consultancy company (for computational fluid dynamics simulations etc). We have a lot of practical experience and ability, as well as some unique in-house software, but we are somewhat lacking in contacts etc.
We're based at the University, and have contact with people there who have lots of roads into industry, even who are frequently being offered contracts that they don't have the time to carry out. Now, we've spoken to a couple of these people, and they're very interested in getting involved with our startup. It should be a mutually beneficial relationship, as it will allow both us and them access to projects we wouldn't otherwise have.
The problem for us, at the moment, is how to formally include them in the company structure. We're looking to incorporate as a limited company in the near future, and we were considering these possibility of including these two people as directors. Now, the company would actually be run by the three partners (myself and the two aforementioned collegues), and we would be included as directors also. I was wondering whether someone with more experience in these matters could illuminate exactly what is involved in assigning a directorship to these other parties, what options we would have, and the power it would give to them. Also, if there are any alternative positions we could assign which would be more suitable to the relationship we're trying to develop, then I would love to hear your opinons on them.
Both are very reasonable guys who would be unlikely to abuse any power they had or try to **** us over. But that said, it would be better for us (and our independence) to limit the formal influence they have, while still allowing both us and them to benefit from their contacts and experience.
Cheers guys
We're based at the University, and have contact with people there who have lots of roads into industry, even who are frequently being offered contracts that they don't have the time to carry out. Now, we've spoken to a couple of these people, and they're very interested in getting involved with our startup. It should be a mutually beneficial relationship, as it will allow both us and them access to projects we wouldn't otherwise have.
The problem for us, at the moment, is how to formally include them in the company structure. We're looking to incorporate as a limited company in the near future, and we were considering these possibility of including these two people as directors. Now, the company would actually be run by the three partners (myself and the two aforementioned collegues), and we would be included as directors also. I was wondering whether someone with more experience in these matters could illuminate exactly what is involved in assigning a directorship to these other parties, what options we would have, and the power it would give to them. Also, if there are any alternative positions we could assign which would be more suitable to the relationship we're trying to develop, then I would love to hear your opinons on them.
Both are very reasonable guys who would be unlikely to abuse any power they had or try to **** us over. But that said, it would be better for us (and our independence) to limit the formal influence they have, while still allowing both us and them to benefit from their contacts and experience.
Cheers guys
).