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Business Questions & Legal Answers - Page 16
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It may be possible to force a sale on the properties through a Partition Action or perhaps a disolution of the corporation in order to get you compensated. There may be several options available to you but I would advise seeking legal counsel very soon. Please feel free to contact me for further assistance... Read More
It may be possible to force a sale on the properties through a Partition Action or perhaps a disolution of the corporation in order to get you... Read More
Regardless of whether a non-disclosure or non-competition agreement exists, the former employee can't use the trade secrets of his/herformer employer. As long as he/she does not utilize his/her former employer's trade secrets, absent an agreement to the contrary, a normal employee (as opposed to an employee who originally sold hte business to its new owner) has no obligation not to compete with his former employer.... Read More
Regardless of whether a non-disclosure or non-competition agreement exists, the former employee can't use the trade secrets of his/herformer... Read More
There are legal issues and accounting issues. The legal issues are largely like any corporation. Getting the IRS to give exempt status requires an accountant with an expertise in this area.
There are legal issues and accounting issues. The legal issues are largely like any corporation. Getting the IRS to give exempt status... Read More
If your former customer is making false statements of fact which are hurting your business, you (and/or your business entity.d depending on the circumstances) may have a claim against him for defamation. If, however, the former customer is merely stating his her opinion, he has every right to do so.... Read More
If your former customer is making false statements of fact which are hurting your business, you (and/or your business entity.d depending on the... Read More
Answered 8 years and 7 months ago by Paul J. Hanley (Unclaimed Profile) |
1 Answer
| Legal Topics: Business
In my view you need a business lawyer who is experienced with article 9 of the UCC and who has represented banks or other non-bank lenders doing factoring.
In my view you need a business lawyer who is experienced with article 9 of the UCC and who has represented banks or other non-bank lenders doing... Read More
Answered 8 years and 7 months ago by Paul J. Hanley (Unclaimed Profile) |
1 Answer
| Legal Topics: Business
The contribution of the trust of the house to the LLC is likely fine, but how does title to the house get into the trust? Or is it in the trust?
If there is a mortgage on the house, the transfers might trigger a due on sale clause. That would need to be examined as well. You also do not want the transfer to terminate the title insurance on the house.
The LLC should have an Operating Agreement for purposes of maintaining liability protection.
... Read More
The contribution of the trust of the house to the LLC is likely fine, but how does title to the house get into the trust? Or is it in the... Read More
Answered 8 years and 8 months ago by Michael Edward Fiffik (Unclaimed Profile) |
1 Answer
| Legal Topics: Business
If you loaned money to the non-profit, you can certainly pay be repaid for that. You should document the loans and repayment terms. Its a bit too early to answer questions about dissolution. Sounds like you had an attorney involved at some point. I'd suggest getting some governance advice from that attorney on an ongoing basis.... Read More
If you loaned money to the non-profit, you can certainly pay be repaid for that. You should document the loans and repayment terms. Its a... Read More
If there were litigation in which test messages you received or sent were relevant, they could be subpoenaed whether they were personal or business-related. However, messages which were not relevant to the litigation could not be subpoenaed, again, regardless of whether they were personal or business-related. Of course, the side seeking the records will often claim that communicaitons are relevant which the person who has the information says is not relevant, and often courts will err on the side of giving greater latitude in discovery.... Read More
If there were litigation in which test messages you received or sent were relevant, they could be subpoenaed whether they were personal or... Read More
You are confusing two issues, I think. If you are a non-profit, you pay no income tax. However, you need a 501(c) filing with the IRS for your donors to deduct their payments to you as a charitable contribution. This filing is unrelated to your status with NY state. You will find it easier I think if you incorporate, but an accountant will handle the tax elections.... Read More
You are confusing two issues, I think. If you are a non-profit, you pay no income tax. However, you need a 501(c) filing with the IRS for... Read More
What does you operating agreement provide? Does it have a buy/sell or other provision which alows the majority member to compel the minority member to sell his interest? If not, and if you haven't breached your duty to the llc in some way, you are under no obligation to accept any offer to buy you out. As a practical matter, however, the majority (and presumably managing) member has a lot of power to make matters difficult for you if you stick around. For example, you don't indicate whether you are employed by the llc or only an investor, but if you are employed it is possible (depending on what your employment agreement provides) that the majority mamber can fire you. You would remain a member of the llc, but not an employee, and wouldn't be drawing any salary.... Read More
What does you operating agreement provide? Does it have a buy/sell or other provision which alows the majority member to compel the minority... Read More
If you have a deal to sell already, it is a regular commercial deal. If you are looking for a deal, there are business brokers that deal in medical practices. You would agree to a lease assignment to the next guy.
If you have a deal to sell already, it is a regular commercial deal. If you are looking for a deal, there are business brokers that deal in... Read More
I know of no reason that you (whether "you" is the individual owners of the businesses or the businesses themselves) can't enter into a joint venture agreement which governs the way that you will interact in connection with a particular venture This would not create any sort of general partnership. You can also create a separate entity, of which you would each own 25% (or however you wanted to divide it), to operate the joint venture. However, this doesn't address the issue of your non-profit status, which could be endangered if the non-profit entity enters into a for profit venture.
Incidentally, I don't know what you mean about forming an "association." To the best of my knowledge, an "association" is not a form of legal entity, like a corporation, llc, limited partnership, etc. (at least in New York; I don't know about Texas) and I'm unaware of any "statutes for an association."... Read More
I know of no reason that you (whether "you" is the individual owners of the businesses or the businesses themselves) can't enter into a joint venture... Read More
Unless you have a contract which limits your employer's right to fire you, or you believe that you were fired for a reason whch is prohibited by statute (e.g race, gender, religion,etc.) you can be fired at any time for any reason, certainly including making a racist comment.
Unless you have a contract which limits your employer's right to fire you, or you believe that you were fired for a reason whch is prohibited by... Read More
While you could sue in NYC, the value of any judgment is unclear. Chinese law does not protect patents here. You have no easy remedy, but you can call an international trade lawyer.
While you could sue in NYC, the value of any judgment is unclear. Chinese law does not protect patents here. You have no easy remedy, but... Read More
Answered 8 years and 8 months ago by Michael Edward Fiffik (Unclaimed Profile) |
1 Answer
| Legal Topics: Business
the big question here is why would the restaurant workers put something like that in your drink? What possible motivation would they have? From your story, it sounds like you think they're responsible for your other failed drug tests? That's difficult to believe unless you can prove some particular motiviation. If you did not get sick or had no consequences finacially, you probably cannot recover damages. ... Read More
the big question here is why would the restaurant workers put something like that in your drink? What possible motivation would they... Read More