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The company I work for is being sold to an out of state company. The new company wants to keep all employees on staff to run the business. The new company wants me to put the business license in my name since I have the degrees and certifications to run the every day business. This new company seems to be a little shady to me and doesn’t have good reviews. If I get the business license in my name and the new company is as shady as I think they are and don’t pay bills and employees would I be responsible since the license is in my name?
Asked on January 28, 2019 under Business Law, Alabama
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 2 years ago | Contributor
Yes, having the license in your name could certainly make you liable for company debts and obligations. Potentally, if the commit criminal acts which are enabled or facilitated by the business license, you could face criminal liability, too. If you don't trust them, don't do this.
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