Registering a private company but trading as multiple names

[Levern]

Hi guys, a few days ago my brother and I joined hands in opening up a new company.

This is the thing, my brother owns his own business and so do I. we will be partnering up on my business and he also wants to move his business under the company name.

I need to register the company but we want to know if we can run both trading businesses under 1 company name. I hope I have made much sense to this as possible. And hope to get help before I start the registration process.

[AmithS]

The only advice I can provide is to make sure you have a partnership agreement in place between all members\directors of the entity spelling out clearly what happens in event of any challenges arising. People tend to not worry about this important aspect especially when its family and when things do sometimes go wrong every asks what should we do now... The answer setup a partnership agreement now!

[Levern]

Thank you, must this be done legally, or can it be done privately and signed by both parties in front a commissioner of oaths

[AmithS]

As far as I know it can be done personally. I would however advise getting a lawyer to check it before signing.

Maybe search \ google a template and modify. Then get it checked by a lawyer...

[Greig Whitton]

I need to register the company but we want to know if we can run both trading businesses under 1 company name.

Off the top of my head, I can think of three possible options:

1. The new company simply sub-contracts the other two companies which continue to operate as separate entities. This is the easiest and simplest approach.

2. The new company is created as a joint venture partnership between the other two companies. This is basically a more formal and contractually complex extension of the first option.

3. The new company is created as a holding company that owns the other two companies. This is the most formal and contractually complex option (with a bunch of tax implications for selling the two businesses to the holding company).

[Levern]

Thanks Greig, i definitely think option 3 is the best so far