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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.
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.