Legal Question in Business Law in Virginia

Purchase of Business

Try to make this as clear as possible.

There were 2 companies that were doing the same type of work in our area, so I will call them company A & B.

Company A was the first company in business, and operated until the owner passed away in 2004. Company B (which was my company) started business in 2000.

I just purchased the equipment (company A), which was a trailer with the company name from a gentleman who obtained it because Company A owner owed him money when he passed away in 2004.

Company C then comes into play in 2004 as soon as company A owner passes away. Company C is using the exact ad that was written by the owner of company A. I know this because he was a friend of mine.

Do we have any legal rights to the name of company A, are we liable for any other debts left over from company A if we can use the name. And can we make company C stop using the ad written by the owner of company A? Any help would be greatly appreciated.


Asked on 6/03/08, 1:36 pm

1 Answer from Attorneys
Bernard Dietz Law Offices of Bernard C. Dietz, PC

Re: Purchase of Business

It depends on what you bought. If all you bought was a trailer then the answer to all three of your questions is "no." If you had an asset purchase agreement, stock purchase agreement or the like for Company A that goes beyond just the trailer then the answer may be different. You should discuss the details with a business attorney to get a specific answer.

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Answered on 6/03/08, 1:44 pm


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