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In order to secure a business name I register it with the…

In order to secure...

In order to secure a business name I register it with the state under my name. although its my brother's company who's name is ***** ***** the advertising as the owner, generating the only business that runs the company. And my brother and I agree it's his business. We had over looked but has since changed the "Registered Agent Information" to his name. Can we now legally say it's his business?

Lawyer's Assistant: What state are you in? And have you consulted a local attorney?

Colorado, and no

Lawyer's Assistant: Has anything been officially filed? If so, what?

Only the paper work with the state and federal government to secure the business name as a functional entity

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

This is a newly formed business, May of this year. though it did not start operating or generate a single dollar until my brother created advertisement for it, which also, includes the business web site.

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Answered in 4 hours by:
10/31/2017
Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Business Law
Satisfied Customers: 22,368
Experience: B.A.; M.B.A.; J.D.
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Hello: This is Phillipsesq. Welcome to JustAnswer! I am reviewing your post, and I will post my response very shortly. Thank you for your patience.

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Your Question:

in order to secure a business name I register it with the state under my name. although its my brother's company who's name is ***** ***** the advertising as the owner, generating the only business that runs the company. And my brother and I agree it's his business. We had over looked but has since changed the "Registered Agent Information" to his name. Can we now legally say it's his business?

Response: Unfortunately, no. The business is still legally yours because your name was used to register the business. A Registered Agent does not own the company. A Registered Agent is just that, an Agent of the company--a person that receives Service of Process on behalf of the company.

If this is an LLC, you can prepare a very detailed Operating Agreement specifying the liabilities, responsibilities, and rights of the parties. Here, you can designate the percentage ownership of the company. This Operating Agreement is for your records only and is not filed with the Secretary of State Office as part of the registration of the business.

Best wishes,

A positive rating to my response is appreciated so that I can receive credit for responding to your post. There is no additional cost to you for giving a positive rating.

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Thank you for your cooperation.

Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Business Law
Satisfied Customers: 22,368
Experience: B.A.; M.B.A.; J.D.
Verified
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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

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