Legal Question in Business Law in Texas
Llc
If I file an LLC for the parent company and have the other companies under it, how do I connect them to the parent company and will they have protection by setting it up like this. I have several different products that I have invented that are completely different and would be under separate names.
1 Answer from Attorneys
Re: Llc
An LLC can own the stock in other organizations, or it could own the intellectual property and license the other organizations. There are other ways to go, too.
Warning: the tax reporting and other costs of keeping up all the organizations may not be worth it. Just because you have different products with different names does not mean that you need to have separate companies. Doing good patent, trademark, and copyright work, EARLY, would probably be a better investment until you see how each product does in the market. For intellectual property information, you might want to review the materials at:
http://www.arnold-iplaw.com/More_Information.jsp
As you can see, there isn't a simple answer to this question. You should use a lawyer and an accountant for this.
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