Legal Question in Business Law in Oregon

LLC Formation from sole proprietorship/partnership

My daughter and I are developing a ''Direct sales'' or Multi Level Marketing Company. If we first file an Assumed Business name with the state as a partnership/ sole proprietor, can we later turn it into an LLC? We would like the protection and benefits that it would provide. We are in the brainstorming stages but would like to get started with at least a legal name so we can go to the trade shows to begin selecting our wholesalers. Thanks for your help.

Asked on 5/23/05, 5:14 pm

2 Answers from Attorneys

Robert Horvat Barg Horvat PC
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Re: LLC Formation from sole proprietorship/partnership

I strongly suggest that you form an LLC prior to engaging in any business activities. The mere filing of an ABN registration will do nothing other than give you certain claims to use of the name you have registered. It will not provide you with limited liability, which is one of the most important advantages an LLC provides.

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Answered on 5/27/05, 10:45 am
Susan Burns Law Office of Susan Ford Burns
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Re: LLC Formation from sole proprietorship/partnership

Yes, you can start with an assumed business name and then use that name later for your LLC. At the time you form the LLC, you have to release the name in order for the LLC to pick it up.

I'm not sure what protections you think an assumed business name gives you. There are none that I can think of, other than being able to use the name for your newly formed business and preventing someone else from using that name. The only to get any kind of protection is to form the LLC.

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Answered on 5/24/05, 10:35 am

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