Legal Question in Business Law in Colorado
My brother has an established company (LLC) in Colorado. We are looking at doing some type of Branch office or subsidiary that would be fully owned by me. This "Branch" office would the same type of business, same name as the original just in a different territory. There will be an agreed upon % of the profits that will be paid to my brother's company. I am wondering what options would be best for this type of structure.
2 Answers from Attorneys
Depending on the facts it could make sense to be a member of the LLC or you could form a separate LLC and have an agreement with your brother's LLC.
What is absolutely necessary is to hire an attorney and have written agreements.
Robert Murillo
That's a good question but not one which you can expect to get detailed legal advice on the internet. There are many ways to structure this arrangement but which is best for you and your brother will be based on your specific factual circumstances. There's no one type of arrangement which is right in all situations, and it doesn't make sense to go through various hypothetical scenarios; that's a waste of time.
Good luck.
Related Questions & Answers
-
So I work for a smaller restaurant company (we have 15 stores) mostly in Colorado.... Asked 12/24/23, 3:47 pm in United States Colorado Business Law
-
I’m planning a minor business endeavor where I’m redesigning and selling... Asked 2/21/23, 11:44 am in United States Colorado Business Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
