kubrick19 wrote:Regarding #3 above, If for example, Kubrick LLC was the main company and it owned Photos LLC, Invention 1 LLC, and Invention 2 LLC. If Invention 1 LLC was infringing on a patent, could you lose the entire Kubrick LLC?
Fine print: I am not a lawyer. That aside, here's my take on this:
It's ineresting that you should ask about this. I may soon become involved in something structurally very similiar. If the corporations are set up properly, then Kubric should be safe with some exceptions.
The Rich Dad books specify that you should separate assets and associated liability with corporations, but that protection can break down if certain rules are not followed. Some things that can cause this to happen are sharing accounts, having the same board members on each corporation and even poor documentation...there's probably more and
I haven't read the actual rules yet...just lay descriptions in books.
kubrick19 wrote:Does this sound like more work than I need to be doing? Would it be better to just have multiple products under one LLC?
Do you have 500k worth of investment, a team of people who will be working for you within the year and are you the an easy target for lawsuits (frivolous or otherwise)? As investment size, complexity, the number of employees and legal exposure increase the value of creating and maintaining a complex business structure can increase. Value would not increase in every case.