priorityjosh
Junior Member
A colleague and I have started a new website that has been profitable for some time now and we want to form a legal entity of some kind to ensure we both have legal ownership and so that we both ensure an equal income. Naturally, we initially thought of forming a new LLC around the website of which we would both be co-owners. However, my business partner already has an LLC that he wants to keep money flowing into for tax and credit purposes (I don't currently have an LLC). He doesn't want to form a new LLC which would divert that income away from his current LLC. Therefore, he's suggested a Joint Venture (assuming I form a new LLC for myself, and he maintains his current LLC). Is a Joint Venture between two LLCs something that can assure co-ownership of the website and profits? Can we establish similar business clauses in our agreement as we would with an LLC?
Thank you,
Josh
Los Angeles, CAWhat is the name of your state (only U.S. law)?
Thank you,
Josh
Los Angeles, CAWhat is the name of your state (only U.S. law)?