Get free answers to your Business Formation legal questions from lawyers in your area.
Looking to buy land/develop homes for a business. Have multiple friends involved. Can one of us get the mortgage and then right up a contractual agreement between us to hand out ownership %'s? So for example, the person with the strongest credit gets the mortgage/loan to build and they own... View More 
answered on Dec 17, 2017
It's theoretically possible, but there are some complications. Most deeds of trust have a "due on sale" clause. This means that if you transfer an interest in the land to your partners, the lender can call the loan. You should disclose all material facts to the lender and get written... View More
I Live in an apartment In Aurora Co For About 2months Now. Its HORRIBLE! I Pay $1071 a Month To Sleep, Eat, Bathe, With Cockroaches. Its So Bad Maintaine Has Tyo Come Out Every Monday To Spray everybodys Home. but they Dont Do Anything But Agitate The Bugs And Make Them Attack. So I Turn Down The... View More
answered on Nov 14, 2017
This is a landlord/tenant issue and you posted it in business formation.
You'll get a faster answer if you repost in Landlord/Tenant.
Thanks
In the contract it states that we should be given 48 hour notice if the General Contractor decides to go with a different company. (So we are allowed to remove our material or get paid within 48 hours so they can keep it) Well they gave us notice at 4:15pm and had workers on our job site the next... View More
answered on Sep 22, 2017
Maybe. In a technical capacity yes it's a breach. The next question becomes is it material. is there a time clause? If the contract doesn't say time is of the essence then the times are more like guidelines and breaking them becomes an immaterial breach. A no harm no foul sort of... View More
Both businesses will be new businesses. 1 business is a staffing agency and the other is a errand service company. The errand service company owner lives in another state. The company will, however start in Colorado first.
answered on Aug 17, 2017
To find a paring you will need to meet with a lawyer who can listen to your needs and concerns. Expect to pay for the attorney's time. Be aware that you can contract for advice and filing OR just advice (the far cheaper option for most attorneys). The basic options include separate businesses,... View More
The partnership owes no back taxes. I personally bought all the equipment, supplies. My partner will become my employee. The split/change is amicable, with no disagreements to ownership, naming, clients, or anything else, and we will still be working as usual. I don't know whether to dissolve... View More
answered on Mar 29, 2017
Sell the partnership (assets and membership/profit interests) to you as an individual for whatever price is deemed fair by all, But consider an LLC, which protects personal assets, as an alternative to a sole proprietorship.
answered on Nov 1, 2016
Here is the link to the Sec. of State's webpage: http://www.sos.state.co.us/pubs/business/businessHome.html . Review the "Information Resources" (top left). Your local library should have books on incorporation (make sure they cover Colorado). You can also contact an attorney, who... View More
I have a $1M+ asset I want to put into a corporation (for some instant basis for a valuation) and subsequently issue common stock (or founders stock?) to raise cash for development of the asset. Given the goal of the effort, issuing stock to an attorney to help with this seems like a good idea. So... View More
answered on Sep 28, 2016
It is possible, but for the attorney there are significant conflict of interest issues. Many attorneys will not work under this type of arrangement, but some will. Contact the attorney(s) you are interested in hiring to see if they will accept these terms.
I am considering starting a campaign online to raise money for multiple charities. My thought is a website allowing small donations into a bank account kept separate for just the campaign proceeds. The website will have a poll where visitors vote to decide what charities get the donations. All... View More
answered on Aug 25, 2016
The idea is possible, but the legal requirements and costs will vary based on your plan. I suggest that you create a firmer plan and then consult with a business attorney. The costs for a basic campaign could be as little as a few hundred dollars (not including legal fees) to several thousand... View More
Hi,
We are a Colorado based corporation, and we want to nominate a person who will deal with all the banking needs on behalf of our corporation in another state.
The bank in another state (Virginia) is asking us to provide some evidence that this person has authorization to open a... View More
answered on Aug 20, 2016
Your idea can work. There are other more formal ways to achieve this too, but this will take time and money. Check with the bank, to see what they would like to see for "authorization".
I'm trying to structure a new LLC where 50% interest is divided in proportion to capital contribution and 50% is split 45/5 in "sweat equity." I want to have the first 50% (capital contribution) to get 100% of the profit distributions and/or proceeds from company assets until the... View More
answered on Aug 9, 2016
There are a lot of unknowns here. An attorney will need to review the articles of incorporation and bylaws before making any definitive statement. There are also a series of tax considerations that are beyond the scope of Justia's Q&A. I recommend that you contact a business or tax attorney.
I learned my former employer will be filing Chapter 7 for his privately-owned corporation mainly because of (unsecured) judgments against it. It has very few assets other than the office building it owns which has about $500k of equity. The building was always the property of a US shell LLC whose... View More
answered on Jul 16, 2016
There are a lot of things to consider here. I understand that you want to do the right thing, but you may be subject to NDAs (non-disclosure agreements) and other potential violations of privacy/confidentiality. The best advice is to contact a lawyer directly (at least the discussion will be... View More
I am starting a small business, landscaping to be exact, and I would like to file as an LLC. When I go to file in my state I see that the name is taken. Well, when I add LLC to the end of my business name it lets me go forward. Will adding the "LLC" to the end of business name make... View More
answered on Jun 30, 2016
There are a lot of issues related to naming (and trademarking). Simply adding LLC may work with the CO filings, but significantly limits trademarkability (and potentially introduces a potential lawsuit). Contact an attorney who can review the name and the conflicting name to assess your risks. That... View More
and other groups that are fighting against ISIS? Or to hire Private Military contractors to assist with training and security.
answered on Feb 12, 2016
A local non-profit lawyer can advise.
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, and it may not work for your specific situation. It is impossible to evaluate a legal problem... View More
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