If my late brither and I owned a business in a partnership agreement and I buy his half from his widow, do I have to change the name of the business?

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If my late brither and I owned a business in a partnership agreement and I buy his half from his widow, do I have to change the name of the business?

Asked on March 22, 2013 under Business Law, Pennsylvania

Answers:

B.H.F., Member, Texas State Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

If you purchase your late brother's share of the business, then you would have the right to retain the name "as is," unless your purchase agreement provided otherwise.  The main thing is to make sure that the purchase agreement specifies a complete purchase, including the right to the use of the name of the business.


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