Legal Question in Business Law in Florida
Buying a business
Hello, A friend of mine wants to sell me his two websites... He's incorporated both of them separately. let's say one corp is titled ''contracts inc and the other is smarts dot com''. He hasn't filed taxes since 2005. He says that i could incorporate and title my corps something like '' Contracts dot com and Smarts inc. I would be buying the domain names of these sites. Would I in any way be responsible for anything that had to do with his previous practices?
2 Answers from Attorneys
Re: Buying a business
If all you want to do is get the website domains, just create your own corporation and then have the domains transfered to you. Under most circumstances, you would not be responsible for his business liabilities.
Re: Buying a business
The domain names should be business assets of his company. If you, as a separate corporate entity, purchase only assets you should not open yourself up to liability for his debts, unless there is more to it than you have stated.
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