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How can two Ohio LLC combine and form a joint venture useing

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the same Business and DBA...
How can two Ohio LLC combine and form a joint venture useing the same Business and DBA name. When one of the partners has a conflint of interest from potential sponsors of the joiunt venture?
Submitted: 7 years ago.Category: Business Law
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9/4/2010
Business Lawyer: Dwayne B., Attorney replied 7 years ago
Dwayne B.
Dwayne B., Attorney
Category: Business Law
Satisfied Customers: 34,304
Experience: Practicing for over 20 years and helped a number of businesses with litigation.
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I apologize, but the scarce facts are a little confusing. Can you provide some more details? Also, what is the conflict of interest?
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Customer reply replied 7 years ago

I work for the State of Ohio and regulate businesses in Ohio. I work for the Department of Commerce, Division of Liquor Control, which regulate Liquor establishments. I am forming a indoor arena football team. The conflict is with potential sponsorship with liquor establishments. Budweiser, Roosters, BW3, etc. My business partner intends to solicit them through a sponsorship package for money to assist in the operation of the business. I intend to solicit non conflict businesses to assist in the operation. The current business structure is my LLC is the football team. His LLC is the marketing company. Expense have been split down the middle, I have all expenses covering the football team and equipment. He has facility rental, office expenses, and marketing the business expenses. The problem lies in setting up the business entity of the football team to handles the money. I business partner has a problem with operating the business with separate checking account using the same name of the football team. I still have the conflict issues with the money received through the conflict companies. How can we set the business venture up to protect my interest and avoid the conflict issue.

.

Business Lawyer: Dwayne B., Attorney replied 7 years ago
Form a third company and build a "chinese wall" to wall yourself off from any decisions that may be a conflict. Have the two LLCs own the third company. I'm still a little confused about how the profits and expenses are divided, but it won't matter if you have a third company.



Thank you for allowing me to assist you. As you know, we work on the honor system here and cannot always provide you answers that you like. I believe I have answered all of the questions you asked so I would request that you please click the ACCEPT button so I receive credit for my work and leave feedback if you have a chance. Please consider clicking "BONUS" as a nice way of saying "thanks" for a job well done, although this is neither required nor expected. Please remember that we can only base our answers on the information you provide and sometimes a misunderstanding as to what you are looking for or already know occurs so feel free to ask additional questions. Please be aware that my answer is not legal advice, it is merely information. You should always contact a local attorney for legal advice.



Several customers have asked how they direct a question to me in particular. If you specifically want me to provide information for you just put “FOR JD 1992” in the subject line and I will pick up the next time I am online.



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Customer reply replied 7 years ago

I understand the concept of forming a third company. We filed for a non profit entity but we could not use the LLC names. So this third company will have to be a for profit LLC. My question is money recieved from conflict companies to this third company will still pose a issue of conflict for me. Will the third company joined by the two LLC, provide me the protection from conflict in Ohio.

Business Lawyer: Dwayne B., Attorney replied 7 years ago
It should, but the best way is to make sure that you wall yourself off (with documentary proof) that you take no part in any actions that are a conflict of interest. By using the third company you add an extra layer of protection and the decisions which would be a conflict can be assigned specifically to the other LLC that you have no control over.



Thank you for allowing me to assist you. As you know, we work on the honor system here and cannot always provide you answers that you like. I believe I have answered all of the questions you asked so I would request that you please click the ACCEPT button so I receive credit for my work and leave feedback if you have a chance. Please consider clicking "BONUS" as a nice way of saying "thanks" for a job well done, although this is neither required nor expected. Please remember that we can only base our answers on the information you provide and sometimes a misunderstanding as to what you are looking for or already know occurs so feel free to ask additional questions. Please be aware that my answer is not legal advice, it is merely information. You should always contact a local attorney for legal advice.



Several customers have asked how they direct a question to me in particular. If you specifically want me to provide information for you just put “FOR JD 1992” in the subject line and I will pick up the next time I am online.



Dwayne B.
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