The silent partner

[M511]

Hi all,

I'm trying to set up a LTD company (Company A123 LTD, for the purposes of this example) with a business partner. However, there is a slight issue.

We have come up with an idea which we both agreed to owning 50/50. However, he doesn't want to be listed a stakeholder in the company. There's a slight conflict of interest in that; the idea is something he may have thought of whilst he was working. So he doesn't want his current employer to find out.

Should he also create a LTD company (Company B123) that becomes a subsidiary company of Company A123 LTD?

What is the best way of making him a key business partner without necessarily having him as a business partner (oxymoron?!) ?

Thanks

[M511]

Thanks guys for the feedback, having looked at some of the posts above it seems almost impossible for him to not be connected to the business so I think I will become the business owner 100%!