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socrateaser
socrateaser, Attorney
Category: Business Law
Satisfied Customers: 38803
Experience:  Retired (mostly)
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can I as an owner rent my business license to the corporation

Customer Question

can I as an owner rent my business license to the corporation when I retire.
Submitted: 5 years ago.
Category: Business Law
Expert:  socrateaser replied 5 years ago.
No.

A government license is personal to the licensee. It is not transferable in any manner.

You could, of course, remain on the payroll and ultimately responsible for the corporation's errors or omissions, buy lots of personal liability insurance -- and then sell most of your interest in the corporation to a buyer.

Hope this helps.

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