Idaho Business Formation Questions & Answers

Q: Can a nonprofit in a one state involve lawyers from different states to help, and any other legal issues with my idea?

1 Answer | Asked in Business Formation, Business Law, Public Benefits and Criminal Law for Idaho on
Answered on Aug 3, 2018
Michael Hales' answer
There are going to be a number of ethical issues here for attorneys. For example, there are rules about referral services like this as well as how the attorneys would be paid. Because there are so many issues to discuss, I'd recommend finding an attorney to review this all in detail.

Q: buying a business, I was informed the seller owes money to last owner, how does that affect me?

1 Answer | Asked in Business Formation and Business Law for Idaho on
Answered on Mar 9, 2018
Michael Hales' answer
It will effect you if you buy the business along with its current obligations. For this reason, it's important to structure the sale so that it protects you against claims directed at the former owner.

Q: Is someone not registered as a business owner entitled to anything? We did not hire them.

1 Answer | Asked in Business Formation, Business Law and Contracts for Idaho on
Answered on Jan 7, 2018
Michael Hales' answer
I had a very similar case in Orlando a few years back. The parties were planning a joint venture, but it never went through. Unfortunately, my client made some verbal promises that the other party relied on and started moving forward as if they agreement had been made. My client didn't stop him even though he knew this was going on. Keep in mind that verbal contracts will be enforced if there is evidence (like some action being taken by the other party) that an agreement was made. This case...

Q: How much does it cost to form an LLC?

2 Answers | Asked in Business Formation for Idaho on
Answered on Dec 15, 2017
Michael Hales' answer
It costs $100 and can be done through the Idaho Secretary of State's website.

Q: If I am 50% owner in a LLC and my partner dies, can the widow of the company get anything from me if I give her the LLC?

1 Answer | Asked in Business Formation and Business Law for Idaho on
Answered on Mar 27, 2017
Glenn B. Manishin's answer
That depends entirely on the terms of your LLC "operating agreement," but those corporate formation documents (and LLC laws generally) typically shield members and owners of an LLC from all personal liability.

Q: i have a business in idaho, and selling to a company in oregon for them to retail, do i need a foriegn entity for oregon

1 Answer | Asked in Business Formation and Business Law for Idaho on
Answered on Jan 16, 2017
Glenn B. Manishin's answer
Shipping merchandise to OR is not considered doing business in that state, so registering as a "foreign" corporation is not necessary.

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