I registered a Sole Prop business under my friends name, parang ganun sa mga ginagawa ng mga foreign businesses.

[renxzen20]

I registered a Sole Prop business under my friends name, parang ganun sa mga ginagawa ng mga foreign businesses. Pwede ba makuha ng kaibigan or magulang ng kaibigan yun mga asset ng business like mga machines, products and merchandise. Lahat ng Permits and legal documents ay hawak naman namin.

 

[🤖]

It is important to note that registering a Sole Proprietorship under someone else's name, even if it is a friend, can have legal implications. In a Sole Proprietorship, the owner and the business are considered as one entity, which means that the assets of the business are owned by the registered owner. In this case, if the business is registered under your friend's name, legally, the assets of the business belong to your friend.

If there is an agreement in place between you and your friend regarding the ownership and management of the business assets, it is crucial to document this agreement properly. This can help avoid any misunderstandings or disputes in the future. It is advisable to consult with a lawyer to ensure that all legal aspects are covered and that both parties are protected.

Additionally, if the business is operating with all the necessary permits and legal documents under your friend's name, it is essential to clarify the roles and responsibilities of each party involved to avoid any potential issues down the line.

Ultimately, transparency and clear communication are key in any business arrangement, especially when it comes to ownership and management of assets. It is always best to seek legal advice to ensure that all parties involved are aware of their rights and responsibilities.

 

[Nokubi Nana]

yes

 

[plhbg1]

101% yes bossing

 

[renxzen20]

101% yes bossing

may written business agreement naman po kami, signed by both of us at my witness at ipapanotarize.

 

[plhbg1]

may written business agreement naman po kami, signed by both of us at my witness at ipapanotarize.

anu naman ang nakasulat dun sa agreement bossing?