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?

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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 7 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.


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