Legal Question in Business Law in Illinois

business liability

Last year I registered a business with a friend. The registration listed both of our names. Aside from the registration, there was no legal agreement between us. I have been unable to contact my friend in 2 months and I am concerned that I might be exposed to some liability if he does some work under the business name. Is there a way to drop him from the business and keep the name, or do I need to close the business altogether and start new?


Asked on 2/09/09, 7:45 pm

6 Answers from Attorneys

Re: business liability

You need to provide more details about the structure of the business.

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Answered on 2/09/09, 7:55 pm

Re: business liability

You need to provide more details about the structure of the business.

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Answered on 2/09/09, 7:56 pm

Re: business liability

You need to provide more details about the structure of the business.

Read more
Answered on 2/09/09, 7:56 pm

Re: business liability

You need to provide more details about the structure of the business.

Read more
Answered on 2/09/09, 7:57 pm
Freda Liu

Re: business liability

What's the nature of your business? LLC or unlimited partnership?

When you said "drop him from the business and and keep the name", do you mean the trade name contains your friend's name?

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Answered on 2/09/09, 8:35 pm
Freda Liu

Re: business liability

What's the nature of your business? LLC or unlimited partnership?

When you said "drop him from the business and and keep the name", do you mean the trade name contains your friend's name?

Read more
Answered on 2/09/09, 8:35 pm


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