My soon to be ex and his business partners have dissipated our business in violation of court orders, taken out and spent all the money ($300K in meals and entertainment in 2 years), casinos, trips, his secretary/girlfriend fixing her car buying her clothes, trips etc. The business is now out of... Read more »
You are likely going to need a business attorney in your area to represent you in any dealings with these creditors who are hounding you. The business attorney should be able to advise you on any potential exposure to creditors claims and defend you if any creditors attempt to collect against you...Read more »
The common way is to set up a limited liability or a corporation and to maintain the legal requirement of that entity so that the corporate structure cannot be "pierced." Here is the IRS's guide on LLCs, which I see most often with startups:...Read more »
I understand salary must be "reasonable in industry standards" but who decides that, and what if there simply isn't enough revenue to sustain a "reasonable" salary for the owner? I'm a sole prop now (just me, pretty small income), and I'm trying to study the... Read more »
To put things in perspective, it's important to remember that an S-Corporation is its own legal person, separate and distinct from its owners. When you, as a single person, elect to turn your LLC into an S-Corporation, you automatically wear two hats - that of a business owner and that of an...Read more »
I have an online based game for kids and young adults 13 and up. It's through an LLC registered in the state of Washington and I'd like to have many minigames including a monthly raffle for rare in game items and a weekly lotto. It would all be strictly a free in-game currency for virtual... Read more »
Maybe. Online prize law is not a well developed area of law yet, and involves not only the consumer protection act, but banking and sometimes securities laws as well. The state statute RCW 19.170 (http://app.leg.wa.gov/RCW/default.aspx?cite=19.170&full=true) governs promotions, disclosures and...Read more »
We are a local chapter of Romance Writers of America in Washington state. All chapters nationwide are required to redo their bylaws this year. National RWA says having a vice president is optional, but chapters must meet the requirements of the state they are incorporated in. RCW 24.03.125 in the... Read more »
Frequently, corporations statutes require this, but also provide that certain offices may be shared by the same person. Thus, if the Washington Nonprofit Corporation Act allows it, the offices of president and vice president, for example, could be held by the same person.
Is it illegal for my partner to tell everyone that i am bought out if it is not true? My partner has done so to our entire supply and contact list harming my credibility and it is not true, I am not bought out.
More information about specifics is needed. A local lawyer can advise.
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...Read more »
You asked this question some time ago so perhaps you've already found the answer. The answer to your question depends somewhat on whether the co-signer also had a property interest in the vehicle (i.e., was his name also on the title?). If he is a co-owner then he may have equal rights to...Read more »
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