Corporate Law Starting 3 related companies - is this OK?

[packbiz]

We are a group of 6 people. We would like to do the following:

1) Start Company X (C Corp or LLC in Wyoming), with the 6 partner having equal shares. This company would own the patents and trademarks for 4 products and 4 mfg processes. This company would then issue a Master License for the use of these patents and trademarks to Company Y.​

2) Company Y would be founded (C Corp in Wyoming), with the equity evenly divided amount 10 partners: The six individual partners of Company X – each getting one of the 10 parts of equity, with the remaining 4 parts going to Company X itself and 3 new partners. Company Y would have the Master License for the use of the patents/trademarks of Company X, as well as it's own trademarks for products it makes with those patents. 15% of all income would be paid to Company X as a royalty for the use of those patents and marks.​

3) Company Z (C Corp in Washington) would divide it's equity equally among 9 partners: The six individual partners of Company X – each getting one of the 9 parts of equity, with the remaining 3 parts going to Company Y itself, 1 new partner and 1 Investor. This company would have the exclusive sales License for the distribution of Company Y's products for a specific sales channel, as well as it's own trademarks for it's own branded products made with the trademarks of Company Y. Company Z would buy it's products from Company Y, as well as pay 15% of all sales to Company Y as royalty for the use of Company Y's trademarks.​

We are doing this for various reasons. The companies would be set-up in sequence – X first followed a few months later by Y and finally Z. The 6 main partners will contribute capital in all three companies.

My question – Is the set-up of these 3 companies legal?

What about the way royalty is paid?

Does this violate any tax laws?

 

[jharris352]

Those questions are WAY too specific for this forum. They would require a myriad of information as to why and how they were set up. Hire a lawyer please..... Good luck.

 

[packbiz]

Lol

LOL - Sorry, I thought this was a legal advice forum. :dgrin

 

[jharris352]

This is definitely a legal advice forum. However, your request for advise is FAR more complex than even you know. You don't have nearly enough details to get a good answer. If you don't want to end up in jail, or in bankruptcy, my LEGAL advice is to take that one to a lawyer. Remember, while we are all knowledgeable, you get what you pay for and you are betting your freedom on that one. I can give you a general, off the hip answer if that is what you want to go with to set up your livelihood.

So, stick around, someone will eventually answer you, or go to an attorney and get very detailed and accurate advice that should keep you out of jail and court.