We sold the business and we have a hard time on getting access to the accounting data for the past years, when we were in charge of the business. Please let me know our rights in this case, as accounting was done through QuickBooks online and new owners took over the existing data.
As a general rule, there are two "concepts" to review .. one is to review the actual written agreement ... and the other is called the "origin of the right" rule, which in this case hints that each party has a "right" to information as it "originated" under...Read more »
Your next steps would be to select two or three of the attorneys listed and request a free initial consultation by video call ... that way, you will have a better idea of your options and development strategies.
I need to form an LLC to buy and operate a rental unit. Three members are brining 1/3 investment each. Can there a buy-out clause such that one member can be bought out a year or later when two other members can bring the capital equal to the initial investment of third member plus 6% annual... Read more »
yes, but with several issues ... management issues, capitalization protocols, any improvements ... and of course, valuation formula ... always best to schedule a few free consultation video calls with at least two law firms to discuss the options and strategies.
A couple of initial questions ...  how have you addressed this question in your written agreement for services?  How have you thought about your customer relationship services in noting exactly what you do and the associated charges? Feel free to reach out to several attorneys to schedule...Read more »
I have been operating a small business as a sole proprietor and I'm at the point of needing to form an S-corp. My chosen name is too similar to another name, so the company helping me to complete the filing has asked me to find an alternative. Should I go with something COMPLETELY different,... Read more »
As you might imagine, the answer is "it depends" ... the first question is ... have you engaged or requested the "name research" and/or achieved the "name reservation" on your first choice for the corporation's name? The second question is how will your name...Read more »
One of the best "structures" to purchasing a home would be an LLC ... with a well drafted LLC Operating Agreement that spells out the details of ownership, possession, management ... and the many "what its" that can occur in life and in such arrangements. I would suggest that...Read more »
Other party did not uphold end as far as expenses and working business hours. Within 45 days of opening We have decided to part ways but now they are asking for double their investment which was about 15 percent of expenses to open the business. What are they entitled to. There is no written... Read more »
This will be hopefully resolved in four initial steps:  engage an attorney/mediator to assist the parties in working toward a resolution in one or two video calls with all parties - there are a few law firms that will offer this service for free ...  if mediation does not work, then to engage...Read more »
Well ... some of the answer will depend upon your address location ... and what your local city or county requires for "home businesses". Additionally, since the advent of SB5 [employee/independent contractor status] most individuals and businesses will want you to have a business...Read more »
The best "next step" is for you to schedule an initial free consultation with at least two attorneys of your choice ... preferably by a Video Call, where you can go over the agreement together ... your thoughts?
Well, the first question is ... "what is getting in the way of you acquiring the new lease" ... and the second question is ... "what does the current lease state about subleasing or an assignment of the lease. To get an answer, I would recommend that you schedule at least two video...Read more »
I am in a 2 year contract in California and would like to cancel my services. However, because I have 18 months left in the contract, I would have to pay a 75% penalty of the remaining months. They have been unhelpful with tech support and I have been dissatisfied. Is there any way I can legally... Read more »
Three initial steps towards resolution:  outline how you are not happy with their delivery of services to their customer service department ... and let them know that various social media outlets, like Yelp, will hear of your dissatisfaction with their support/tech services ... and you are...Read more »
My friend is starting up a business, he’s doing good and now needs a shop to work. He does not have the credit to lease a place. He asked me to help him lease in exchange for 10% of earnings. What would I have to report to the IRS or does his total earnings affect me in any way? I am aware I’m... Read more »
Short answer ... depends upon whether you are "on the Lease" or a "guarantor of the lease payments" ... in addition to a variety of other issues ... such as a "defacto partnership" ... and issues with the usuary laws ... so, the next step for you is to schedule a free...Read more »
Related to the sale of business. The information missing is the period of time the covenant covers. The purchase agreement lists the individuals, but is missing the period of coverage. Does that make it non binding or what is the default period of coverage if there's no amount of time listed.
Generally speaking, the "period" of time will be partially determined by the allocation for that item in the purchase agreement, absent that notation, it will be a reasonable time, based in part, upon the total price paid and how the price was or should be allocated to the tangible and...Read more »
Well, the first question is SHOULD you operate your business as an LLC ... OR ... a corporation ... and if the LLC sufficiently embraces your ownership, management and exit strategies, then should the LLC be taxed as a "partnership" or taxed as a corporation. The answer will evolve with...Read more »
We hired a vendor to do some small work for our business. We set up their banking information since they preferred to get paid that way. Due to an error on our end, we accidentally overpaid them $3000. I have reached out several times through email and even got a read receipt email confirmation... Read more »
So, first question ... where are you located ... and where are they located? Second question, was you "over payment" for any type of services previously rendered ... and/or contemplated to be rendered? The next step is for you to schedule a free initial consultation with at least two...Read more »
Depending upon what state you are in ... and I will be assuming California ... any agreements with "employees" as to non-competition ... are unenforceable at law. However, you can restrict the employee's activity in other ways such as a carefully drafted non-disclosure,...Read more »
This house already functions as a co-operative. The current owners are selling and past residents would like to organize to purchase the property. This will need to be done fairly quickly. We have the funds for a down payment and to do some repairs however we'd like to know the best way to... Read more »
Assuming that the "financing" will support it, the initial answer would be the LLC ... which, depending upon how the LLC Operating Agreement is drafted, will allow relatively easy "in & out" of LLC Members and some level of asset protection for the individuals. The best next...Read more »
It’s in a trust fund. I paid this lawyer off early. I signed agreement for 4 1/2 years. They would never settle my debt. I have sent letters email and faxed him. That I want stop his program but won’t give my money back. This has been paid in full for 21/2 year. I have even called him and says... Read more »
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