Q: Can my new record label be a part of the business/LLC I already have open? Or do I need a new business/LLC for it?
I already own a business/LLC in California, in the Entertainment field. I want to start a Record Label. I'm wondering if I need to start (or open) a new business/LLC for my new Record Label, or can I have it operate as a part of/under the business/LLC that I already have? The business/LLC I am already operating is a film production company, and I know they can have many departments. So technically I may be able to have a "Record Label" department, and not need to open another business/LLC. Or maybe I do need to. I'm just checking, either way. Thanks!
A: A merger/ acquisition may satisfy your needs. More details are necessary to provide a professional analysis of your issue. The best first step is an Initial Consultation with an Attorney. You can read more about me, my credentials, awards, honors, testimonials, and media appearances/ publications on my law practice website. I practice law in CA, NY, MA, and DC in the following areas of law: Business & Contracts, Criminal Defense, Divorce & Child Custody, and Education Law. This answer does not constitute legal advice; make any predictions, guarantees, or warranties; or create any Attorney-Client relationship.
A: It is possible to add a new business activity to an LLC. There are many factors that affect whether you want to keep the businesses separate. These include taxes, liability and investment in the company.
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