What is the name of your state (only U.S. law)?
Illinois
I am starting a gym and group training business. The owners of the facility operate baseball/softball batting cages at the location as well.
Rather than simply leasing the space (which would be financially difficult for me at the moment), the owners of the facility informed me that their lawyer advised them to form a "peer partnership" with myself and negotiate for a percentage of the income that I generate.
I want to operate my business as an LLC, retain complete control of general operation of my business, and maintain sole rights to my brand, property, customer records, etc.
Is this possible with a form of a partnership? Should my LLC be the entity that is entered into this partnership? Any other considerations regarding my situation are greatly appreciated! Thank you.
Illinois
I am starting a gym and group training business. The owners of the facility operate baseball/softball batting cages at the location as well.
Rather than simply leasing the space (which would be financially difficult for me at the moment), the owners of the facility informed me that their lawyer advised them to form a "peer partnership" with myself and negotiate for a percentage of the income that I generate.
I want to operate my business as an LLC, retain complete control of general operation of my business, and maintain sole rights to my brand, property, customer records, etc.
Is this possible with a form of a partnership? Should my LLC be the entity that is entered into this partnership? Any other considerations regarding my situation are greatly appreciated! Thank you.