Legal Question in Business Law in Pennsylvania

Purchasing an Existing Franchise

I currently have a Nevada Corportation which has been open for over 3 years and I am considering purchasing an existing Franchise in Philadelphia PA. Is it better to purchase the business with my corporation or create a new Pennsyvania LLC. I am not sure if there are any Legal differences I should be wary of.

Thanks


Asked on 11/13/06, 1:32 pm

3 Answers from Attorneys
Gerald Hershenson Law Office of Gerald M. Hershenson

Re: Purchasing an Existing Franchise

I recommend you form an Pennsylvania entity. You would have to register the Nevada entity in Pennsylvania. Gerald Hershenson

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Answered on 11/13/06, 2:00 pm
Matthew Kelly Kelly Law

Re: Purchasing an Existing Franchise

It depends on several factors but generally, unless the businesses are very similar it would make sense to form a new entity. I would be glad to speak further with you about it. 610.647.5800.

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Answered on 11/13/06, 2:40 pm
Marc V. Taiani AAAL - Allegheny Attorneys At Law

Re: Purchasing an Existing Franchise

I agree with the previous attorneys, out of state pre-existing corporate entities are never the best idea in similar circumstances. You should retain an attorney to incorporate a new business because there are several nuances between PA and Nevada corporate entites. My office can incorporate your business for approximately $1,000.00 plus costs.

Sincerely,

Marc V. Taiani, Esquire

AAAL - Allegheny Attorneys At Law, PC

412.731.0865 (Office)

www.AlleghenyAttorneys.com

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Answered on 11/13/06, 3:47 pm


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