If I created an online service that another company wants to acquire, is there a way to structure this deal so they can take over my assets while I retain the name of the LLC?

They would like to acquire my LLC outright which naturally controls the service. I would like to keep the names associated with the LLC (twitter and domain name) as I feel it is part of my identity. Is there a way to structure this deal so they can take full control of my assets (source, technology, etc.) while I get to retain the name of the LLC (domain name and twitter)?

Asked on July 23, 2014 under Business Law, Washington

Answers:

Shawn Jackson / The Jackson Law Firm, P.C.

Answered 6 years ago | Contributor

Yes, it is called a "Sale of Assets" agreement. One...of many issues...would be if you are selling as one of your "assets" the "goodwill" of the business...since keeping the LLC name may adversely affect the actual value of the good will. With this type of transaction, you will want to select an attorney in your State to develop the necessary documents.

Shawn Jackson California Business Attorney


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