I have been working for the same firm for over 10 years. Recently, my boss has told me that she decided to retire and asked me if I wanted to purchase the business. I have formed an LLC to purchase the business, since their business is Allen Management LLC dba The Westminster Group. I want to continue to use the business name, The Westminster Group since all of my clients know me under that name and I am purchasing that name as part of the business. However, if I'm reading this correctly, South Carolina does not allow dba's unless you are a foreign corporation or LLC. Is this correct? If so, how can I legally continue to do business under the name The Westminster Group?
I don't practice in SC and I don't know what you're reading, but the whole purpose of a DBA is for an individual or entity to operate under another name, so I'm guessing SC doesn't limit DBAs to just out of state entities and LLCs. Anyway, if the company you're buying was an LLC and used this DBA, and you've formed an LLC and want to use this DBA, why would you think there would be any difference between the 2 LLCs and use of this DBA?
You really should hire a lawyer to do the due diligence appropriate to a business purchase, include the requisite warranties and representations, and make sure the seller agrees not to compete with the business. Having worked there 10 years you're certainly very familiar with the business, but now is not the time to do your own legal work.
Avvo doesn't pay us for these responses, and I'm not your lawyer just because I answer this question or respond to any follow-up comments. If you want to hire me, please contact me. Otherwise, please don't expect a further response. We need an actual written agreement to form an attorney-client relationship. I'm only licensed in CA and you shouldn't rely on this answer, since each state has different laws, each situation is fact specific, and it's impossible to evaluate a legal problem without a comprehensive consultation and review of all the facts and documents at issue.
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