For instance, say I need legal help with a start-up I'm trying to launch. I reach out to an attorney who works for a law firm who who says he's offering pro-bono legal services. I develop a relationship with this attorney and we agree on a deal that says he will take equity in my company... Read more »
The answer depends upon the relationship that this attorney has with the law firm. It is possible that this attorney has some type of non-compete clause, or some other provision in a contract with the employer preventing the lawyer from self-dealing. So much of the answer to your question depends...Read more »
Congratulations! There really isn't an easy way to answer this question. A lot depends on what kind of business you are starting and what form of business is right for you. You would need to make sure the name is available. As to the form of business, an LLC might be perfect for one person...Read more »
I'm starting my first online clothing store. Should I include any sort of legal text on my website? My brand is not trademarked yet, I live in the US, and I'll be shipping to ePacket countries. Thank you!
I've been removed from a Mass LLC that I was 50% owner of by the other 50% owner. The original LLC filing has me on it. My partner filed an amendment to the LLC that removed my name. And another amendment that changes the name of the LLC. Is it possible for this to happen without my consent?... Read more »
I have an events LLC producing different types of events. I would like to have two brands under the main LLC to do business as. If I trademark or service mark the 2 event brand names, would that be enough to do business as and add the name to a business bank account? Or would I also need to open... Read more »
It isn't one or the other, they have different purposes. The short answer is that you should probably do both in order to accomplish everything you describe, and likely other things too. Hire a business attorney to give you specific advise on all of this.
I run a software related website with good amount of users , I was approached by another website owner who has the business registered as an LLC in Boston Massachusetts,We figured out the details of the merge and all is fine .
When i asked how we move forward with the process of making me a... Read more »
No, not at all. Before you agree to anything, you need to hire a law firm that has experience working with non-citizens in your situation to properly advise you on both the legal and tax implications of what you propose.
A business lawyer such as myself handles such issues as business formation, but it's key to also consider having a lawyer draft crucial contracts that you may need in dealing with employees and other 3rd parties, review your business for compliance with related laws, consider Intellectual...Read more »
You need to work with both an experienced attorney and insurance agent to protect yourself here in all aspects. For both, the details of your business will dictate what you need. For insurance, at minimum you need a commercial general liability policy and also workers compensation policy since you...Read more »
I have a Social Business Idea that has a few ways to be monetized and I don't want to be completely limited by the Non-Profit sector. I want to file for incorporation but don't know what Umbrella a Social Enterprise falls under.
You should register it in MA as you are a MA resident. There is no tax advantage in being a DE LLC if you are the sole member of the LLC and reside in MA. Moreover, if you have a dispute and want to engage the MA courts, you will have to register the DE LLC in MA to do so and the cost will wind-up...Read more »
A non-compete agreement as part of the purchase is one way to address that. You should have an attorney represent you in your purchase of the business to ensure that the documents reflect your intentions.
I started an online business as a hobby which has now been producing income. Do I have to register my business even though I have no employees? Will I be penalized for producing income without being a registered business? I appreciate your help with this situation. Thank you.
There are both legal and tax implications to consider when engaging in business. You should consult with both an attorney and accountant to discuss the specifics of your business so they can properly advise you.
I was wondering who I should contact or just to go through small claims court in regards to a travel agency that promised to refund me and is giving the run-around as to why they can't refund me, after already promising to do so. Any information is greatly appreciated.
If you signed a contract with the travel agency (most likely for your original transaction, not the refund), that contract may contain a provision regarding consent to jurisdiction and governing law. If that provision exists, contact an attorney in the state described in that provision.
A EU company depending upon the jurisdiction it is incorporated can loan money to a US corporation. The Amount of money that is required to be withheld will depend upon the tax treaty as well as the amount of tax it is required to pay to the US. The foreign entity will need to apply for and...Read more »
I'm completing the (MA) Articles of Entity Conversion of a Domestic Other Entity to a Domestic Business Corporation. The LLC has a sole proprietor who wants the corporation to have one share of stock. The new owner/stockholder is President, Treasurer, Secretary, and Director.
If I can assume that by, "with one share of stock" you're also suggesting that you're the Sole Shareholder of the (current) corporation, and will be the sole Member of the (new/prospective) LLC...then yes. You are the only party with relevant authority over what restrictions...Read more »
Living in one State but forming an LLC in another State isn't the appropriate question to be asking...the right questions have more to do with whether your business has enough of a "nexus" of activity in the non-organizing State to require qualification in the non-organizing State....Read more »
The business meets all the qualifications of IRC 1244. I need to know if anything should be filed and with whom to offer the 1244 protection to investors. Also, I need to know what documentation should be retained and ultimately delivered to my investors if a loss is generated.
To The Code also imposes recordkeeping requirements on the corporation relative to its §1244 stock. Among these is requirement that the corporation designate designation, for its transitional year, those of its outstanding shares that qualify for small business stock treatment.
Placing an LLC in a trust does not change when the LLC wants to make distributions and that is determined by the Manager and/or the Members of the LLC. The Trust can provide for distribution of funds on a monthly quarterly or annual basis. It depends how it is drafted. The reason to put a LLC in a...Read more »
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