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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

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About the Author

Giselle Ayala

Giselle Ayala Mateus is a Colombian lawyer qualified to practice law in the United States and Colombia.   Giselle has served as counsel and representative on issues of adjustment of status, asylum application, work visas, interview with immigration officials, presentation and validation of forei...

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