Are these documents valid in court and am I still considered a legal partner?
To find out if the documents you've signed are valid and actually make you a member of the LLC or give you any interest in the LLC, you'll need to consult an Illinois business law attorney who will need to see the documents. However, no documents need to be filed with the IRS to create a limited... Read more »
I use my own car and am paid 1099 in my own name. In case of an issue during the serve or an auto accident while working I want to protect my family, house, cars etc from litigation/responsibility.
As an Indiana attorney, I'm not familiar with Illinois rules governing process servers, so I can't tell you if there are any specific provisions of those rules that might affect the answer to your question. But I can answer your question as a general matter.
As long as the LLC is properly... Read more »
I did pay for their service several years ago but did no business with them afterwards. They indicated the service has been continued as the contract indicated auto renewal. They wanted $999.99 a year since 2016. They offered to settle for several lesser amounts and wound up settling for $199.99... Read more »
It would depend on the terms of the agreement you signed. And it would also depend on how they were taking payment from you and if they can prove you were given services or the services were available to you during that time. You should seek an attorney to review your agreement--pay the hourly... Read more »
You can obtain a loan without any paperwork. For example, a co-worker asks to borrow $20 until next Friday. You make the loan and the co-worker pays you back next Friday. No worries. However, it is always a good idea to have some paperwork that documents what took place and what is expected.... Read more »
I always tell my clients that you want an odd number of Directors on the Board of Directors. Too many times an even number of Directors face a stalemate, where no decision can be made. Perhaps that's the solution to your problem. You need an odd number of partners, where your Articles of... Read more »
We are looking to incorporate under the Alliance of Medical Education Professionals (AMEP). The group will provide membership to administrators across the medical specialty spectrum and provide numerous resources related to education, networking, professional development, etc.
The actual incorporation of Alliance of Medical Education Professionals is a very easy process. You need to file as nonprofit organization, also known as a non-business entity or nonprofit institution with the Secretary of State. It is just a matter of filling out some very easy forms and paying... Read more »
Would I be in violation of that non-solicitation agreement if she is the owner of the business that will directly compete with my current employer? I will definitely be working for this new company. The non-solicitation agreement expires after 2 years. Thank you!
Yes, it is highly likely. However, a definitive answer is dependent on the precise language of the non-solicitation agreement with your previous employer. That being the case, I recommend organizing the non-solicitation agreement and any other information you believe is relevant to this... Read more »
There are numerous factors to be considered prior to forming your business, however one must know the type of business, your business plan, and goals prior to providing you with a comprehensive answer. Thus, I would recommend organizing all information relevant to your new business, and consult... Read more »
I would recommend talking to an attorney about whether it makes more sense for you to incorporate or form an LLC from a tax and liability standpoint. Based on those answers, you can then decide whether to incorporate in Illinois or some other jurisdiction.
This question is very complex for a short answer. Some general considerations are: do you need protection of your personal assets from potential business debts or liabilities; are there investors who do not wish to participate in the day to day activities but wish to invest and share in profits or... Read more »
There's more to the process than simply filing the articles,and that is the easiest part of the process. Keep in mind that there are plenty of attorney's that are not capable of property and thoroughly establishing an entity. You would be well advised to work with an attorney that has a thorough... Read more »
what best method to be protected? and from which country to get lawyer?
If you are conducting business in the US, I highly suggest you obtain a lawyer from the US. Many of us offer free consultations, so it will not cost you anything to obtain a professional's opinion that is tailored to the specific facts of your case.
If the company is an "C corp." or "Subchapter S" corporation, you would transfer stock. If the company is an LLC, you would transfer membership units. Membership units are not technically stock or shares but perform the same legal function. You should consult a business formation lawyer to assist... Read more »
I'm looking into starting up a small carpentry business. Just want to make sure I know what exactly needs to be done to prevent any Issues that may arise, as best as I can.
Yes, it is certainly still in effect, and is the source for a great deal of litigation in Illinois. If you are contemplating starting a carpentry business, I would highly recommend you consult with an attorney prior to doing so, as it will save you a great deal of time, stress, and money in the... Read more »
There are 2 primary ways to buy an existing business:
(a) Stock Purchase
(b) Asset Purchase
These are very different ways of buying. In a Stock Purchase you step into the shoes of the existing business, including any negative history or events. In an Asset Purchase you are... Read more »
Looking to start a business. Initial research indicated that the name selected was unused. Bought domain. Further research uncovered a company in Thailand using the same name in virtually the same field. Overlap in business/target market unlike as they're in Thailand and I'm in US but not... Read more »
Trademarks and trade names are jurisdiction-specific. If the name is not used or registered in the US, you are free to use it here...but of course no in Thailand.
The issuance of "stock" implies for lawyers a "C corp." or "Subchapter S" corporation. Alternatives like an LLC entity allow sale of ownership interests that are not technically stock or shares but perform the same legal function. You should consult a business formation lawyer to consider the... Read more »
I’ve gone and purchased another building out of state — should I use the same LLC for that one, or form a new one if the other state?
You ask if you should create a new limited liability company (LLC) to own and manage an out-of-state building (commercial?) that you recently acquired.
There is no one "right" answer to this question, but I recommend you look into either the creation of a new LLC (it may have to be formed... Read more »
I would be managing partner and handle all trade decisions. Would this mean I would need to be an accreditted investment advisor?
Yes it's legal. I can set one up for you, and provide a draft operating agreement.
Is this the file number given on the llc-5.5 form filed with illinois?
It is the number assigned to your LLC by the Secretary of State.
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