JMN
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I'm looking at spinning up another lab for a different type of client base.
Trying to figure out how to arrange things for best benefit and most protection.
Should they be kept totally and completely separate? Labor expenditures will cross between lab entities, but there will be separate addresses.
So I'm thinking
One LLC that pays and provides the labor to both.
Both labs as its own LLC and they contract with the labor LLC for labor
This keeps all the property and finances separated and if one goes down the others are able to continue as standalone entities by paying labor directly.
Any better ideas?
Still noodling this. Thinking right now it's at least 6 months out at the earliest.
There are reasons for having two separate 'things', for branding issues alone it's required as they will have different clientele and business models.
Trying to figure out how to arrange things for best benefit and most protection.
Should they be kept totally and completely separate? Labor expenditures will cross between lab entities, but there will be separate addresses.
So I'm thinking
One LLC that pays and provides the labor to both.
Both labs as its own LLC and they contract with the labor LLC for labor
This keeps all the property and finances separated and if one goes down the others are able to continue as standalone entities by paying labor directly.
Any better ideas?
Still noodling this. Thinking right now it's at least 6 months out at the earliest.
There are reasons for having two separate 'things', for branding issues alone it's required as they will have different clientele and business models.