A document stating what happened and admitting fault should be drafted, it should also lay out the repayment structure with interest including an offset from distributions and in the event of default forcing a buyout of their interest at a discount and possibly a stipulation of judgement for...Read more »
A programs director for an agency that takes care of people with Developmental Disabilities is paid as a programs director but also serves clients from his agency and is paid as independent contractor for serving the clients in his house
12 years ago a friend and I started a used car dealership. In structuring the company my name was not included, but it was me who was responsible for creating the company’s brand (business name, logo, slogan, website, colors, operating methods). My ideas, my creations, my hard work for the first... Read more »
There may be potential claims here that you could have pursued. As you may well know, most civil claims/disputes like this have a deadline by which the claim must be brought in court (a "statute of limitations"). Given that the business was started 12 years ago and the relationship appears to have...Read more »
I have an existing business that is an LLC and we are moving to a new location for our business. In the new lease it calls out in our addendum for both LLC members to give a Personal Guarantee, does this negate the personal property protection that our current business LLC gives us? Should we seek... Read more »
Dear LLC Lessee: It is standard practice for a Lessor to require a Personal Guarantee ("P.G.") from the Members of an LLC. The reasoning from a Lessor's standpoint includes the primary concern that an entity (an LLC, for example) can breach a Lease by simply winding down and dissolving, thereby...Read more »
First off you can be sued for pretty much anything so I'd answer that with a yes. Whether there's a viable claim is another story. The fact that the potential plaintiff doesn't really have a case won't stop them from filing suit and forcing you to go through the legal process of proving they don't...Read more »
Back taxes for 2 separate corporations that were started in Montana. Seeking a lawyer in Denver Colorado as that is where the i currently reside. Does the sought out lawyer in Colorado need to have jurisdiction in Montana in order to help me?
My ex-business parter wants me to payback money he invested in our company. I never asked for him to pay me back what I invested. Plus I was willing to sign over my shares of the company and he refused. Now he wants to sue me over the funds and also wants me to pay back an invoice that paid for but... Read more »
I am a small business owner that has a five year lease with two additional five year lease options. We are currently coming to an end of our first five year lease option and will expire on January 31, 2019. We have informed landlord that we would like to exercise our second five year lease option... Read more »
Your option to renew is an enforceable contract right. So long as you have complied fully with the notice requirements and are not in default on the lease, it is your unilateral right to renew at the rates set by the lease.
If your position is valid then if you remain past the end of the...Read more »
I do not see a patent issue here. I hope you find an attorney with the right background to help you. Ideally, this would have been something you worked out before you populated the site with data that you need.
You may want to Google around to see if others have dealt with this issue or...Read more »
The finish is defective and the cabinets have to be re-finished (for $10,000). Who do I take action against (in small claims court)? The contractor that I hired or the finisher that he independently hired.
It would a county court case which has jurisdictional authority on cases between $7,500 and $15,000. You would have to determine venue (Which county to file in) under the court rules. Generally you would sue everyone that did not fulfill their obligations under the contract. In this situation it...Read more »
I am from Colorado. I am purchasing an existing company in TX. That company will be manufacturing product in TX and I will have a partner there. The product will be built and shipped from that third party manufacturer to likely all 50 states. My question is when purchasing the company, can I set up... Read more »
Generally the best approach is to register in the state of operation. Also be aware you will pay income taxes to CO regardless of where you set up the LLC because an LLC is a passthrough entity and you are a CO resident.
You need to retain a business/tax attorney that can advise you on the...Read more »
It is beyond our ability to settle and we are considering closing the business (a subchapter S). I am writing because our programmer is considering launching his own business and selling our software, which he wrote. Our concern is regarding liability. Would the judgment be enforceable against the... Read more »
The developer, even though he wrote the software, would not be able to sell it without a license. This assumes the S-Corp owns the software either as a contributed asset or as work for hire. The judgement holder would likely seek a writ of garnishment to seize the rights to the software then sue...Read more »
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