Can a company sell virtual points that people can buy and use to buy stuff from stores that agree to cash in those points for money at the end of every month from the company?
How CLOSE can a company get to avoid been called a bank legally?
answered on Jun 30, 2017
Your able to loan money within certain interest rate limits but cannot maintain money accounts or participate in issuing credit cards or anything offered by Federal Reserve. But this a very tricky area that needs lots of research as failure to follow state guidelines can lead to imprisonment. You... View More 
I am a 50% partner of LLC which has one more member. Due to recent events, I am discussing LLC dissolution with my partner. She already knows that I am not interested in continuing this partnership. We are negotiating the exit but in meanwhile do I have to continue answering new inquiries and sign... View More
answered on Jun 27, 2017
Generally you do not have to answer questions and such if the Members have voted and approved dissolving the entity. Get get counsel to get you out cleanly.
10 years ago, my partner and I started 50/50 LLC business. He takes wedding photos and I take wedding videos. For 10 years, I spent my own money to buy equipment needed to video and he spent his own money to buy equipment needed for photo. Profit was always 50/50. We are dissolving the company in... View More
answered on Jun 25, 2017
The answer is that with an LLC when both people are Managing Members they both have a fiduciary duty to do what's in the best interests of the Company. The failure to do is actionable in New Jersey.
answered on Jun 9, 2017
An employer cannot fire you for filing a workers compensation claim. Doing so violates the law in New Jersey.
We have two partners LLC and each of us owns 50%. There is no Operating Agreement. Due to conflicts and trust issues, I like to exit the LLC with my share of IP, cash and assets. My partner is not cooperating since he doesn't want me to leave. What should I be doing to make sure I exit LLC... View More
answered on Jun 8, 2017
Usually you refer to the mechanism set forth in your operating agreement that governs the resignation of a member from the entity. In a case such as this you have to refer to the governing statute in NJ which is the NJ Revised Uniform Limited Liability Company Act. Moreover, you most likely need a... View More
I am in an LCC with two 50/50 partners. Unfortunately when the LLC was formed, we did not created an operating agreement. Our company offers photo and video services. Video responsibilities are taken care by me and photo responsibilities are taken care by my partner. Due to differences of... View More
answered on May 3, 2017
Being that you don't have an operating agreement, the statute will guide you as to how to dissolve or leave. If you and your partner can agree you can make a buy-out agreement. For this you need to do is get a business valuation so you know what the buy-out will cost. Along with this process... View More
answered on Apr 28, 2017
Your employer cannot fire you because of your workers' compensation claim. With that said, assuming that you are an at-will employee, your employer can fire you while you have an open workers' compensation claim for other reasons which do not violate the law.
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