I am enquiring about a conversion from an LLC to a corporation in Colorado in US.Can you advise if a legal agreement exits in the LLC name if it is automatically transferred upon a conversion to a corporation?Eg. I have a Master franchise agreement between an Australian Company with a LLC in Colorado in US and the LLC has converted to a corporation.Can you confirm that the agreement is binding and I am not required to do anything to ensure the corporation is legally bound in the same manner that the LLC was?
Country relating to Question: United States
Can you tell me what a fein number is?
HiChange of Ownership or StructureGenerally, businesses need a new EIN when their ownership or structure has changed. Refer to "Do You Need a New EIN?" to determine if this applies to your business
I dont understand you say it has to be the same EIN yet the paragraph above states this.
What forms do I need to see to show that all the assets of the LLC have been transferred to the corporation?
Thank you fr your patience obviously Aus law and my understaning based on Aus law is different in the US.
To confirm you can covert a LLC to a corporation which will take all assets of the LLC over to the Corporation and the Corporation is still legally bound by the agreement that clearly states it was with the Australian company and the LLC?
So where do I go to find out if the new Corporation that has been formed is legally bound to the agreement that was with the LLC? I have copies of the Statement of coversion but is does not list the agreements or any assets? Should I be requesting more proof that the agreements will be liable under this conversion?
So when you say rectify agreements with the new name... For the current agreement between Aus Co and the LLC DO we just do a letter up to state thattheir has been a conversion and the agreement is now with the Aus company and the Corporation?... AND with the agreements between the LLC and the franchisees (current agreements) do we do the same? OR do you mean just to change any future agreements to reflect the corporation name not the LLC?
To confirm you state between the LLC and the franchisees signed by both parties? Can you confirm that we also do the same between the Aus company and the LLC? Does this HAVE to be done by law as they have advised me that they have been given advice that does not need to happen. What if the Franchisee does not wish to sign the letter? Or is it simply advice to notify the franchisee?
Thanks for the clarification. I will ask them the questions. If I decide that we need to have the one hour consultation, how much is it and how do I ensure I get back to you so I do not have to explain everything again?
Okay - Thank you for your help it's appreciated!
So do I need to do anything to ensure you are paid the $99? Or is this automatically done?
Contract questions and Incorporation questions answered.
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