Virginia Business Law Questions & Answers

Q: Does unvested stock always implies that person employed by the company?

1 Answer | Asked in Business Formation, Business Law, Employment Law and Securities Law for Virginia on
Answered on Oct 15, 2017

Provided that person carry a specific authorization to that extent in order to avoid any possible scam.
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Q: false or inarticulate information on your background check by chekr

2 Answers | Asked in Consumer Law, Employment Law and Business Law for Virginia on
Answered on Oct 11, 2017

If Chekr is considered a consumer reporting agency it has obligations under the Fair Credit Reporting Act (FCRA) to have reasonable procedures in place to assure maximum possible accuracy of the information reported. Simply put, it should have algorithms or other "If then" formulas in place to make sure the information reported is really about you. You may have a claim against Chekr. You are likely not to have a claim against UBER if you are considered an independent contractor. Did you...
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Q: Can a contract signed by a canceled LLC be set aside as an invalid transaction?

1 Answer | Asked in Business Law, Contracts and Consumer Law for Virginia on
Answered on Aug 21, 2017

Yes they can. An LLC must be considered active with the SCC to be able to conduct transactions.
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Q: Can I provide independent services to a former client based on this agreement?

1 Answer | Asked in Business Law for Virginia on
Answered on Aug 9, 2017

This is definitely a situation to be wary about and I would definitely avoid handling this matter privately.
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Q: Internet Only business - Does it need to file as a foreign business entity in Virginia?

1 Answer | Asked in Business Formation, Business Law and Internet Law for Virginia on
Answered on Aug 4, 2017

To the best of my knowledge, Virgina does allow single-member LLCs. (Single member partnerships are not permitted.)

Your business is conducted online but as the owner you have a physical presence in Virgina, even if just your home. You are therefore required to register as a "foreign" corporation if in operated in another state.
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Q: I registered my company with LEGALINC, Can I change the "Registered Agent/Registered Office" address into my office add?

1 Answer | Asked in Contracts and Business Law for Virginia on
Answered on Aug 2, 2017

Yes you can. You have to file the appropriate docs with the Virginia SCC
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Q: I hire a company to do repairs to my house .the company started but never finished. Can I hire a lawyer to handle case?

1 Answer | Asked in Business Law, Small Claims, Construction Law and Consumer Law for Virginia on
Answered on Jul 30, 2017

Yes this would be an ideal case to hire an attorney on
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Q: in Virginia can a county force an 501c3 Corporation to liquidate its assets in a Fire Department that is registered SCC

1 Answer | Asked in Business Law and Civil Litigation for Virginia on
Answered on Jul 20, 2017

Generally, the answer would be: No. However, the final answer may depend on what is the basis for the County's action.
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Q: What can I do to run a business whose owner has been arrested?

1 Answer | Asked in Business Law for Virginia on
Answered on Jul 16, 2017

I would attempt to arrange to have him sign a power of attorney to allow you to act on his behalf for as long as he is in jail. If that is not a possibility, you may need to petition the court to be appointed as his guardian while he is in jail. Option a is the best option. Speak to an attorney to help you through this process.
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Q: Forming solo proprietorship

1 Answer | Asked in Business Formation and Business Law for Virginia on
Answered on Jul 11, 2017

I would disagree with your statement about needing to incorporate (or, as you stated, form an LLC). Liability is not just limited to exposure from a potential client. You should definitely speak with a lawyer prior to make any final decision. Taxes are at the (1) federal level (EIN), (2) state (sales tax), and (3)county (BPOL, occupation license). We would be happy to discuss further with you. Give us a ring at 703-402-2723 or 1-800-579-9865.
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Q: When does someone become a shareholder?

1 Answer | Asked in Civil Litigation and Business Law for Virginia on
Answered on Jun 20, 2017

A person becomes a shareholder when a stock certificate is issued to that person and they pay at least the par value of the stock.
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Q: Would an ethics committee have authority to to enforce a decision that does not correlate to a specific rule?

1 Answer | Asked in Appeals / Appellate Law, Business Law and Gov & Administrative Law for Virginia on
Answered on Feb 6, 2017

The question requires clarification. What sort of ethics committee is involved, what industry/occupation and what grounds did the body give for its decision? Is enforcement being sought via the courts or in a private licensing/certification setting? For example, if this were a legal ethics matter, the relevant bar association could impose sanctions, but enforcement such as voiding the respondent's license to practice law would typically require application to and an order from the state supreme...
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Q: If a foreign-based company I own earns income but does not pay any dividends back to me, do I still owe US taxes on it?

1 Answer | Asked in Business Law and Tax Law for Virginia on
Answered on Jan 13, 2017

Definitely find a lawyer who specializes in this area. You don't want to try to guess with taxes. If you need a referral, feel free to contact me. Also, I found this white paper which you may find helpful in understanding the issues from a broad view: https://fas.org/sgp/crs/misc/R40623.pdf
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Q: requests for documents prior to a filed suit

1 Answer | Asked in Business Law and Civil Litigation for Virginia on
Answered on May 18, 2016

Impossible to say for sure without knowing all the facts - perhaps you have a contractual obligation to turn over documents in anticipation of litigation. If you know a suit is incoming, it'd be best to hire an attorney now and have him/her handle the prep and help plan your strategy. Good luck.

Q: Business partner is quitting before we launch and I want to buy his ownership of shares for $500. How do I do this?

1 Answer | Asked in Business Law for Virginia on
Answered on Feb 6, 2016

Best to have a lawyer review the situation, advise and document the transaction.

Please Take Notice: I am not your lawyer unless we enter into an engagement agreement in writing. This is only general information. 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 to get legal...

Q: In Honolulu, Hawaii, for S Corporation, how many Board of Directors are required by law?

1 Answer | Asked in Business Law for Virginia on
Answered on Feb 4, 2016

I most states only 1, but check with a Hawaii business lawyer.

Please Take Notice: I am not your lawyer unless we enter into an engagement agreement in writing. This is only general information. 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 to get legal advice and help with...

Q: What is the easiest and best way to get S corporation law, required board of directors, shareholder rights etc

1 Answer | Asked in Business Law for Virginia on
Answered on Feb 4, 2016

Unclear what you are asking. A local business lawyer can help.

Please Take Notice: I am not your lawyer unless we enter into an engagement agreement in writing. This is only general information. 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 to get legal advice and help...

Q: I am a disregarded entity LLC. I have 754 step up. I want to make an S election. What happens to stepped up assets?

1 Answer | Asked in Business Law for Virginia on
Answered on Aug 28, 2015

Talk to a local tax lawyer or CPA.

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 to get legal advice and...

Q: If you want to ask an attorney for a written response to a question, is that asking him/her for an "opinion" ?

1 Answer | Asked in Business Law for Virginia on
Answered on May 29, 2015

Yes, that is a proper question. Be well.

Q: Can a LLC in a different state buy real estate in the State of Virginia without registering with the State of Virginia

1 Answer | Asked in Business Law for Virginia on
Answered on Dec 10, 2014

The answer is governed by statute. In pertinent part, § 13.1-1059, entitled Transactions not constituting doing business, reads as follows:.

A. The following activities of a foreign limited liability company, among others, do not constitute transacting business within the meaning of this article:...

7. Creating or acquiring indebtedness, deeds of trust, and security interests in real or personal property;

8. Securing or collecting debts or enforcing deeds of trust and...

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