Legal Question in Business Law in District of Columbia
Multiple LLC's under a parent LLC
I want to establish a website as an LLC. But I also want to do other ventures separate from the website(ie; promoting, advertising, etc) and the members that are participating in the website. Would it be best to form a parent LLC and then separate LLCs for each different venture under the parent LLC or can I form one LLC and in the operating agreement layout that each ''member'' is only entitled to the specific business that they were brought ''onboard'' for?
2 Answers from Attorneys
Re: Multiple LLC's under a parent LLC
The best way would be to form an overall shell corporation with a number of subsidiaries which would be incorporated for a specific purpose.
There are a number of things to be considered which are specific to your venture. Check with your attorney to work out the details.
Good Luck!!!!
Re: Multiple LLC's under a parent LLC
It is likely that formation of separate LLC entities under DC law would be preferable from an administrative and legal standpoint. Careful analysis of the facts and circumstances surrounding the LLC activities, including the different levels and types of investment by the different LLC members, is essential. An experienced business law attorney should be able to handle this under DC law. Please note that my legal services are available only with a signed engagement agreement in accordance with the DC Code of Professional Ethics applicable to attorneys licensed in the District of Columbia. If I can be of any help to you or people you know, give me a call as I would be pleased to provide legal support. Sincerely, Robert Beatson, II; 12-30-2001, 10:15 p.m. EST; Law Offices of Robert Beatson, II; 9818 Glynshire Way, Potomac, MD 20854; Tel/Fax 301-340-2951; email: [email protected]; website: www.beatsonlaw.com; Licensed to practice law in DC, MD, VA, and NY.