Legal Question in Business Law in Virginia

Is it possible to establish a partnership of a DBA but remain in full control of the existing LLC structure?


Asked on 1/15/19, 8:54 pm

1 Answer from Attorneys

Frank Natoli Natoli-Legal, LLC

I'm not really sure what you mean. Are you saying you want to conduct business as a partnership under a DBA that is linked to an LLC, but the LLC will not be a partnership rather just owned and controlled by one person?

The short answer is you can create perhaps a profit sharing or profits interest in the channel of business the DBA conducts. This would be a contractual relationship not really a partnership under default laws.

Before you commit to anything, I suggest that you consult with a lawyer in private and discuss your objectives in more detail. You can start by calling around to several for a free phone consultation, get some insights then pick the best fit to work with.

If you would like to discuss further over a free phone consult, feel free to contact me anytime that is convenient.

Our firm is now referred by the American Bar Association (see under the New York section): http://www.americanbar.org/groups/delivery_legal_services/resources/programs_to_help_those_with_moderate_income.html

Kind regards,

Frank

www.LanternLegal.com

866-871-8655

frank@lanternlegal.com

DISCLAIMER: this is not intended to be specific legal advice and should not be relied upon as such. No attorney-client relationship is formed on the basis of this posting.

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Answered on 1/16/19, 6:30 am


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