Blog

Can one combine two separate sole proprietorships with their own DBA and EIN together into one LLC?

Posted by Giselle Ayala | Jul 09, 2020 | 0 Comments

By Giselle Ayala Mateus

If two persons are doing business as sole-proprietors, they can come together to form a new entity such an LLC. If the sole-proprietors have been in business for considerable time and they have independent licenses, intellectual property and contracts, it is important to formalize the creation of the entity with a written agreement that considers what will be contribution of each member, as well as what will happen to those licenses, intellectual assets and contracts. Additionally, the new LLC as an entity independent of its member will need a new EIN.

#business#entityformation#llc#EIN#contracts#trademarks#mybusiness#compliance#licenses

The information provided on this website does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this site are for general informational purposes only. Readers of this website should contact their attorney to obtain advice with respect to any particular legal matter. No reader, user, or browser of this site should act or refrain from acting on the basis of information on this site without first seeking legal advice from counsel in the relevant jurisdiction. Only your individual attorney can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation.

About the Author

Giselle Ayala

Giselle Ayala Mateus is a NY attorney with comprehensive experience in transactional law, creative agreements, business formation, and immigration law. She is also the founder of Focus Juridico a not-for-profit project focused on supporting Latin American entrepreneurs and artists.

Comments

There are no comments for this post. Be the first and Add your Comment below.

Leave a Comment

Client Solutions

The Law Office of Giselle Ayala Mateus, handles a comprehensive portfolio of services, immigration, business, contracts, and intellectual property. You don't need an attorney to recite you the law, you need one that makes it work for you.