Myself and another family member are starting a home based, virtual
(primarily over the internet) business. We are located in two different
states; California and Texas. We are creating a partnership to use economy of
scale costs for the business. What will be required to setup this business?
The primary state is Texas.
Hi Carol, if you are looking to form a general partnership in the state of
Texas and/or California the DBA or fictitious business name registration is
done on a county level. In California, the registration needs to be
accompanied by a publication filing with one of the county newspapers. The
registration is rather straight forward and will include basic information
such as the business name, address, and who the owners of the DBA will be.
However, when forming a general partnership there is no personal asset
protection for either of the partners. Heaven forbid the company is to be
sued and found liable, both partner's personal assets such as their cars,
homes, bank accounts could be jeopardized. If personal asset protection is
important to you and your business partner, you may want to consider forming
an LLC. This filing would be done on a state level, rather than a county
level.
CorpGirl2012 | Window Shopper | 5/25/2012 - 6:35 pm
Texas and/or California the DBA or fictitious business name registration is
done on a county level. In California, the registration needs to be
accompanied by a publication filing with one of the county newspapers. The
registration is rather straight forward and will include basic information
such as the business name, address, and who the owners of the DBA will be.
However, when forming a general partnership there is no personal asset
protection for either of the partners. Heaven forbid the company is to be
sued and found liable, both partner's personal assets such as their cars,
homes, bank accounts could be jeopardized. If personal asset protection is
important to you and your business partner, you may want to consider forming
an LLC. This filing would be done on a state level, rather than a county
level.
kmurray | Community Moderator | 5/14/2012 - 2:39 pm
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