Idaho Business Law Questions & Answers

Q: What are the benefits of creating a company as opposed to doing business as an individual?

1 Answer | Asked in Business Law for Idaho on
Answered on Dec 15, 2017

This is a great question and one I am addressing in my business law class right now. Although about 60% of businesses in Idaho operate as sole proprietorships, there can be a great benefit in operating as an entity. The primary reason tends to be that you can limit some liabilities if you operate under some business entity form. The preferred entity among most Idaho attorneys is the limited liability company (LLC) because it can protect personal assets, although these protections are somewhat...
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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

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.
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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

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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Q: What is the penalty for failure to register a foreign LLC in Idaho?

1 Answer | Asked in Business Law for Idaho on
Answered on Aug 29, 2015

If you are required to register, then why not just register?

Please Take Notice: I am not your lawyer unless we enter into an engagement agreement in writing. This is general information that is given for legal education only. It is not legal advice, and it may not work for your specific situation. It is impossible to evaluate a legal problem without a comprehensive consultation and review of all the relevant facts and documents. I strongly encourage you to consult with a local lawyer...

Q: Served lawsuit papers from business creditor, I'm no longer a registerd member/manager of with the SOS. Am I liable?

1 Answer | Asked in Business Law for Idaho on
Answered on Jul 14, 2015

If you were served papers, you should make sure and hire a lawyer to respond before a default judgment is entered against you. Whether or not you are right or will win, you have to respond promptly.

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