Hello my name is ***** ***** I will help you with this.
When you say retain own identity, is there any reason it could not be one company but each have its own 'Trading Style' please?
Yes, the second group has its own "brand" and identity and does not want to be subsumed into the main group, hence we thought an umbrella company with both "groups" retaining their own identity.
Each company would need to have its own account, so you would need three, one for the umbrella, one for the Association and one for the Limited Company
As for who owns an association it is a group of indidviduals.
So if the individuals that own the Limited company are the same that formed the association, all is well
Otherwise the association would need to change to a Limited Company
This gives an added lawyer of protection as individuals won't be personally liable for debts
Can I clarify anything for you about this today please?
If that is so then it looks like a non-starter as we are hoping to save money by having one group. To be frank, the main group is the British Institute of Verbatim Reporters, a 132 year old company of verbatim reporters. The Association is just that an association of individuals performing the work of Speech-to-Text Reporters. They are AVSTTR. They broke away from the main body BIVR 10 years ago and have become a "brand" in their own right. We thought a simple merger with them becoming Access to Verbatim Speech-to-Text Reporters would suffice but there are a few from each group who do not wish to change names.
Ah I see. That causes a difficulty then and you will need 2 separate ones
Does that help?
Not really. Is there any way that we could become "one" yet with the separate identities?
Yes. By having separate trading styles but under one company
How does having "separate trading styles" work, please?
So they could still say they are XXXX name, but on letterheads etc they just need to say, xxx is a Trading Style of XXX Ltd
So they can use separate names etc, but it is all one company
But all accounts will be as one, for annual reporting purposes
But any decisions need to be as a group as what one does affects the other
Okay. Is there anything else you could suggest?
Apart from setting up two companies or having one company and 2 trading styles, that is it really
Those are the only options
The main group BIVR were prepared to change their name, until a few diehards objected. I thought British Institute Group of Verbatim Reporters. The other group AVSTTR were prepared to merge and be "Access to" rather than "Association" as I was told (by a well-meaning colleague" that they could not be an "Association" if they merged.
That is correct.
But if they are all under one name, they can still have the trading styles.
But that is the only way
Okay, then I guess that is it and the "umbrella" is of no use. Is there any website you could recommend to give me more information about trading styles?
Thank you, ***** ***** try them.
If this answers your question could I invite you rate my answer before you leave today.
If the system won’t let you please click reply.
Please bookmark my profile if you wish for future help: http://www.justanswer.co.uk/law/expert-alexwatts/