I have setup a corporation in NYS. The nature of the business is insurance brokerage. This is a new company. Did not do a single transaction...

Question

I have setup a corporation in NYS. The nature of the business is insurance brokerage.

This is a new company. Did not do a single transaction yet, but eveything is ready to go.

As I have a full time job, I don't have any plan to rent an office.

I have spoken with a local businessman who will provide me the office space and

another person would help me share some expenses with me.

I don't want to give my company ownership to them as I am not very familiar with them.

But can I ,being the owner of the corporation, do partnership

between my corporation and three of us including myself to run this business

at this specific location only for profit sharing.

Please let me know. Thanks for your help.

Answer

To my knowledge, you may only share profits with other insurance brokers. As a broker, you should be familiar with the ethics/guidelines or risk losing your license.