Legal Question in Business Law in Delaware

License requirement to offer "Business Brokerage" service to buy/sell small digital businesses (valuation from $100K to $5M)?

We are a single member Delaware LLC and wanted to offer "Business Brokerage" service to small digital businesses to help them buy and sell their business. Such businesses are valued in the range of $100K to $5M. As our proposed operations would be across the US as we are exclusively brokering deals involving digital business. Also 100% of our work will be done from home (over zoom calls) with no employees and no physical presence or no physical operations. I wanted to confirm that whether I require any additional business licenses to operate as a "Business Broker"? Thanks

Asked on 3/10/21, 9:56 am

1 Answer from Attorneys

Roman Fichman Esq. Law Practice of Roman Fichman Esq.

Irrespective of the fact that the LLC is a DE LLC, the answer would depend on where you are physically located, what state(s) the deals would be in, what type of assets you will be "brokering" and what type of other work you will be doing.

It's always a good recommendation to establish a working relationship with a business attorney and an accountant. And in your case it's even more important, as you will have have different deals involving different parties located in different states with every state having a different set of qualifications for brokers depending on the assets being sold and the work being conducted.

Feel free to PM me directly

Roman R. Fichman, Esq. │ @TheLegalist

email: Info (@) TheLegalist (dot) com

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Answered on 3/10/21, 12:57 pm

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