Get free answers to your Business Formation legal questions from lawyers in your area.
We are a smaller private company with 5 share holders. One partner has found a buyer for some of their shares at a massively inflated valuation, over double. Our shareholder agreement doesn't allow us to block the sale through the board, but we are worried about us being liable for this... View More 
I graduated in May 2024 with an MBA degree and I am currently on my F1 OPT. I have been working on a business idea for some time, and would like to start an LLC to formalize my business and use it as my OPT for the first year. I have already spoken to my DSO and while they have not raised any red... View More
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answered on Aug 16, 2024
You can form an LLC while on F1 OPT, but there are some important limitations to be aware of. While starting the business is allowed, working full-time for your own company can be problematic. The U.S. immigration rules for OPT require that employment be directly related to your field of study, and... View More
answered on May 13, 2024
This is something that a patent attorney would probably be able to advise best on, but you posted last week and your question remains open. There is a category here for patent law. You could repost and add that category, and drop some of the other categories here that aren't relevant... View More
I see there is a trade mark for these words. Thank you!
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answered on Mar 8, 2024
When considering the use of "Line Life" for t-shirts you plan to sell, it's important to be aware of existing trademarks on these words. Trademarks are designed to protect the brand identity of businesses across various products and services. If "Line Life" is trademarked... View More
What must I do legally?
She wants me to continue on her brand and artwork selling.
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answered on Sep 14, 2023
To legally handle your mother's request, you should:
1. Ensure she has a valid and comprehensive will or trust that clearly outlines her wishes for the art business's succession.
2. Work with an attorney experienced in estate planning to facilitate the transfer of assets... View More
What are the legal parameters around this?
answered on Jun 26, 2023
You could repost your question and add "Trademarks" as a category. That's probably why it remained open for two weeks. Some questions go unanswered, but you could have better chances of a response with the added heading. Good luck
I have a sole proprietorship plumbing business but have been told by other business owners lately that I should have gone with an LLC. I am fully insured, bonded, and licensed but I want to make sure that will protect my personal assets if something does happen one day. I have been researching how... View More
answered on Apr 26, 2023
An LLC can certainly provide an additional level of protection for your personal assets, when properly set up and properly run. But, as you pointed out, you would likely need to open a new bank account and set up your license, insurance, bond, etc to reflect the LLC. Some of those things you might... View More
I am thinking of decorating masks with nfl stickers and then selling them on a craft website.
answered on Jul 7, 2021
Maybe
You need to consult with an attorney to review your options and risks
answered on Dec 20, 2020
Determining whether a product infringes a patent is not a do-it-yourself project. It is governed by federal law and not the law of any particular state. Many times the analysis is complicated. If you have any investment at stake, it should be cost-justified to consult a patent attorney.
My business would involve hosting summer programs for teenagers in different states, at locations temporarily rented for that purpose (e.g. facilities at a college campus). Do I need to be licensed in a state I plan to hold a program in?
answered on Jan 29, 2018
Probably so, but an attorney would need to review the business laws of that particular state to know for sure.
As an LLC, we file as an S-Corp for federal taxes. We have an existing contract with the foreign company for services, resulting in expected revenue for 3 years. Can they purchase part of the LLC even though we file as an S-Corp? Or should we reform as a C-Corp. What then becomes of the existing... View More
answered on Sep 15, 2017
You would have to elect to be taxed as a partnership or as a C-Corp. A foreign entity cannot own part of an S-Corporation. However depending upon the purpose of the investment and the nature of how you want to operate there may be an alternative set of structures to accomplish your goal.
To first clarify, I do have a partner who is of legal age; however, his line of credit is woefully inadequate for the company's needs. The main concern is the distinct possibility that the adult may attempt to claim the company as his own, thus completely undermining the operation. Thus the... View More
answered on Feb 6, 2016
Contracts by minors are generally voidable in many states so doing business can be challenging. Sit down with a local business lawyer.
Please Take Notice: I am not your lawyer unless we enter into an engagement agreement in writing. This is only general information. It is NOT legal advice,... View More
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