Colorado Business Law Questions & Answers

Q: We are a 22 year old software company that recently received a judgment from a customer for a large amount.

1 Answer | Asked in Business Law for Colorado on
Answered on Mar 14, 2018

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 the developer for infringement. If the developer want the software he would need to buy it from the S-corp at fair market value. If it's distributed to him or sold for less than FMV it would be...
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Q: In Colorado, can you legally write up your own contract for your business, or must a lawyer provide said contract?

1 Answer | Asked in Business Law for Colorado on
Answered on Jan 22, 2018

You can absolutely draft your own contracts for your business without an attorney. It's not a good idea but you can do it. What is illegal, unauthorized practice of law, is to advise others on the legalities of contracts.

Regarding enforceability of the contracts you write is an entirely different issue. You're going to do the best you can and you're taking your chances that you're just as good as or better than someone who studied law for three years, passed the bar exam, and then...
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Q: Is it illegal to unknowingly send an advertisement for homeowners insurance to a minor in Colorado?

1 Answer | Asked in Business Law and Insurance Defense for Colorado on
Answered on Jan 15, 2018

No, that woman's an idiot.

Even if it were illegal it would be prosecuted by the county attorney for a criminal act, or more likely the Dept. of Regulatory Agencies (DORA) for a regulatory violation. She has no private right of action to sue you for mistaken advertisement.

The question should be what are you putting your kid's name on that it's ending up on this list.
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Q: I'm running an advertisement for my company and I'm not certain it's legal, I need some feedback on it-

1 Answer | Asked in Business Law for Colorado on
Answered on Dec 27, 2017

You should consult an attorney who can advise you on your situation.
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Q: I work for a small biz as an employee and was sued personally (small claims) for a mistake the biz made. What do I do?

1 Answer | Asked in Business Law, Civil Litigation and Employment Law for Colorado on
Answered on Dec 12, 2017

Hire an attorney, A company policy is not the law and they can sue you and the company. You'll have to respond to the complaint and defend yourself at trial if necessary.
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Q: Can I use the standard meal allowance method to calculate M&IE deductions when traveling internationally for business?

1 Answer | Asked in Business Law for Colorado on
Answered on Nov 16, 2017

Yes, just make sure you use the international tables not the domestic.



Publication 463:
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Q: Hi, I foolishly paid a fee for a loan consultant service when starting up a business; help me not pay?

1 Answer | Asked in Business Law and Contracts for Colorado on
Answered on Nov 15, 2017

It's going to depend on the contract and whether they followed state funding laws whether you can get out of the obligation or get any money back. Let me know if you'd like to setup a consult and we can discuss costs and options.
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Q: Can Corporate titles be changed when when the company is in negotiations to be sold?

1 Answer | Asked in Business Law for Colorado on
Answered on Oct 27, 2017

Well, as you are ready to decorate the other half of your company as CEO/President (even if useless title) there seems to be no impediments in your way. Currently you both are on equal terms having 50:50 share in your company and other liabilities if not otherwise spelled out in articles of partnership deed. The moment you sell out, your partner will evidently become 100% shareholder or say full owner of that company, that means, the very nomenclature of the company is bound to change and...
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Q: We moved from NM to CO w/ two LLCs. We have to dissolve the LLCs in NM, correct? Just Articles of Dissolution needed?

1 Answer | Asked in Business Law for Colorado on
Answered on Oct 26, 2017

Not quite, to avoid tax issues it's often better to create the new LLC in Colorado and contribute your interests in the NM LLC to the CO LLC then dissolve. Remember that if you dissolve a company you are taxed on the FMV of the assets reduced by your basis. It's going to depend on your basis, FMV, and other factors which approach is best.
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Q: We run an ecommerce site to sell products

1 Answer | Asked in Business Law for Colorado on
Answered on Sep 27, 2017
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Q: Does a retention agreement, where my company is moving locations (and I am not) and I am being retained for two months

1 Answer | Asked in Business Law and Employment Law for Colorado on
Answered on Sep 1, 2017

Not automatically. Any deviation from prior contractual agreements should be included in the retention agreement.
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Q: Is it legal for a car dealership to sell a car while it is off the lot and being test driven by another person?

1 Answer | Asked in Business Law and Consumer Law for Colorado on
Answered on Aug 30, 2017

Unless you or your broker had a contractual arrangement to hold on the sale of the vehicle, the dealership can sell a car that is not on the lot and/or is being test driven. If the dealership "sold" the car without really selling the car to simply prevent the broker from forcing a discount on the vehicle, the broker could potentially to sue dealership (and have you, the buyer, enter as a 3rd party beneficiary), but this would be a hard case to prove (and likely the legal costs would exceed the...
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Q: Is it legal to have people sign a non-compete when testing out a dating method? Please read more for details.

1 Answer | Asked in Contracts, Business Law and Consumer Law for Colorado on
Answered on Aug 6, 2017

The non-competes would be very difficult to enforce under Colorado law. The "test run males" are not working for you they are the customers.Non-competes can't be enforced against customers, you can't stop someone from using another firms services. You could ask them to sing non-disclosure agreements but again they are difficult to enforce. I'm making an assumption you have a legitimate business method and we're not talking about prostitution. If it is a truly new and unique method you would...
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Q: If I have a title for a vehicle I traded into a dealership, can I go get it from the dealership?

1 Answer | Asked in Business Law, Contracts and Lemon Law for Colorado on
Answered on Jul 6, 2017

You should hire an attorney. This is a tricky situation that's going to have to be handled with a bit of care.
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Q: I have a rent to own agreement and the landlord wants me to sign a new lease. How long do I have to respond?

1 Answer | Asked in Business Law, Family Law and Real Estate Law for Colorado on
Answered on Jun 26, 2017

There is no set time except for any set forth in the offer. An offer may be withdrawn if not accepted within that period. However, the real issue here is for you to take steps to enforce your original agreement. Alternatively, you may have a claim for unjust enrichment. You should retain an attorney to review that agreement and advise you.
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Q: Start a online business from home in Colorado. I don't have a room set aside for home office. Do I need to register

1 Answer | Asked in Business Law for Colorado on
Answered on Jun 20, 2017

Yes, you must register with the state for any business operated in the state and/or located in the state. Your local county and likely city will also require registration and taxation for all non-service business transactions.
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Q: Can a lawyer call you on your personal phone and at work to collect a personal debt owed to his friend?

1 Answer | Asked in Business Law, Collections and Personal Injury for Colorado on
Answered on Jun 8, 2017
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Q: What type of tax filing option is best for my business?

2 Answers | Asked in Business Law and Tax Law for Colorado on
Answered on Jun 6, 2017

You should seek out a tax attorney to advise you. You're asking for legal advice and attorney's can't provide legal advise to people who are not their client.
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Q: Signed non compete. Territory was expanded without new contract. Does the original contract apply to territory changes?

1 Answer | Asked in Business Law and Contracts for Colorado on
Answered on May 11, 2017

You will need to contact a lawyer directly (and pay for their opinion) to review the contact and the circumstances to provide a legal opinion.
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Q: If the company I work for doesn't have a policy on marijuana, can I be randomly tested or fired for it?

1 Answer | Asked in Contracts, Employment Law and Business Law for Colorado on
Answered on May 4, 2017
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