Legal Question in Business Law in California
business
can a coporation own another corporation, llc, or sol proprietorship
Asked on 10/08/07, 1:03 am
2 Answers from Attorneys
Bryan Whipple
Bryan R. R. Whipple, Attorney at Law
Re: business
A corporation can own another corporation, for sure; that's where the notion of a "subsidiary" comes in. A corporation can also own an LLC. However, the idea of a corporation "owning" a sole proprietorship is legally and logically not possible. A sole prooprietorship is not an entity and thus is not a thing capable of ownership. "Sole proprietorship" is a term used to describe a business operated by an individual; since a corporation is not an individual, it cannot either "have" or "own" a proprietorship any more than it can marry or have a spouse.
Answered on 10/08/07, 1:26 am
Jonas Grant
Law Office of Jonas M. Grant, A.P.C.
Re: business
Yes, yes, and no.
Answered on 10/08/07, 3:19 am
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