If I have a small business that’s a 50/50 LLC and my partner is looking to abandon company and work for a competitor, who owns the logo/brand?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If I have a small business that’s a 50/50 LLC and my partner is looking to abandon company and work for a competitor, who owns the logo/brand?
What can I do to keep it? I still want to keep the brand alive. Unfortunately, there is no operating agreement in place.
Asked on October 2, 2014 under Business Law, New Jersey
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 10 years ago | Contributor
The LLC, which is its own legal "person" or entity, owns the logo/brand. (Presumably, that is; if either partner had owned the logo/brand prior to the LLC being formed, it is possible (s)he still owns it, depending upon whether it was given or sold to the LLC, on the one hand, or whether the owner simply allowed or licensed the LLC to use it.)
If a partner or member of the LLC leaves it for another company, the logo/brand will remain with the LLC.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.