Legal Question in Business Law in Ohio
Home based wholesale biz
Where do I find out if I'm able to run a wholesale business with our personal framed artwork and cardlines out of our homes? There are 4 partners, 3 of us live in the same county and 1 in another.
1 Answer from Attorneys
Re: Home based wholesale biz
Dear Bizpersons: Thank you for your inquiry. It is advisable for you to consider formation of an LLC - a Limited Liability Company in Ohio, with the partners operating as members. The advantage of an LLC is financial immunity. By contrasr, in a partnership, each partner is financialy liable for any act or liability of any other partner, including any unapproved purchases, sales, etc. whether for personal or business purposes. Time and space here prevent me from advising you in greater detail.
Consult a knowledgable Attorney to advise and assist you, ASAP.
Good luck with your new venture.
Sincerely,
J. Norman Stark
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