Q: Ways to start a single member LLC as a subsidiary of a multi-member LLC for a retail store? Need 100% control.
I have 60% of the company and want to keep the same branding. But need to have full control of the new line. Can this be as simple as putting the agreement in the operating agreement and filing for a single member LLC where I have 100% control. My main goal is to keep the branding and customer base
A: It's doubtful that you could assume complete control of a product line of the original LLC simply by starting a new LLC, and even taking a new business opportunity from the original LLC may be problematic. Presumably you would also need to have ownership of that product line & branding transferred or licensed to the new entity. Talk to a lawyer in your area, and bring the operating agreement for the original LLC, along with information on exactly what it is that you want to do.
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