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Management, Organization, and Ownership
One of the most important decisions in starting a company is determining the organization and ownership structure. Because our company intends to startsmall, we’ve decided that the most viable ownership structure we could have is a Limited Liability Partnership (LLP). This form of ownership keeps our startup costs to a minimum, as it only requires somelegal costs and small filing fees to register our trade name of WingMan. Furthermore, this type of ownership puts the onus of success squarely on the shoulders of the partners, something we areentirely comfortable with. The 6 partners will each contribute to the ultimate success of the company through their collaboration, communication, and execution of their respective tasks and position.As previously mentioned, our LLP will consist of 6 members: Kevin Hisey, Jordan Carson, Ethan Fedida, Todd Lewis, Jake Masters, and Justin Smith. All liability is split between these 6 partners. Oncethe company becomes profitable, all partners are entitled to an equal share of the profit. The members of the board of directors, who will also serve as the management team, will consist of the sixfounding partners. As Chief Executive Officer (CEO), Justin Smith is responsible for being the face of the company. He will manage all aspects within the company and ensure that every componentwithin the business is functioning efficiently. As CEO, Justin’s input will be required in every decision made within each function of the company. Serving as Chief Operating Officer (COO), Ethan Fedidawill be responsible for managing the daily functions of company. Issues with CampusReps, customers, or anything of the sort will be his to handle. Additionally, Ethan will be in constantcommunication with our CampusRep network, detailing their success and ensuring they have enough of the product. Kevin Hisey will serve as the Chief Financial Officer (CFO) and thus be in charge of making...
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