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Business Law Legal Answers

Business Law Legal Answers

Getting out of partnership

Answered 10 hours ago by attorney Bruce Robins   |   1 Answer   |  Legal Mostics: Business Lawyer
With very few exceptions, shareholders are not liable for their corproation's obligations.  That is the most important reason to incorporate.  Thus, if the corporation was run properly (e.g. no commingling of funds, observation of corporate formalities, etc.), you would, in almost all instances, not be liable for any of the corporation's debts unless you had personally guaranteed them.  If that is what you meant when you wrote that most of the bank credits are based on individual credits, then you would be liable on your guaranty, but that has nothind to do with your status as shareholder, just your contractual obligation as guarantor.  You should look at the provisions of any guaranty to make sure that it is not continuing for new debts, and if it is to cancel it going forward, if you can.... Read More
With very few exceptions, shareholders are not liable for their corproation's obligations.  That is the most important reason to... Read More
It would be better to have an attorney but if you think that you can do it yourself, then go ahead. If you lose, depending on the amount, you can file an appeal within 10 days but you should have an attorney to handle the appeal.
It would be better to have an attorney but if you think that you can do it yourself, then go ahead. If you lose, depending on the amount, you can... Read More
I can't tell you whether you have a "slam dunk", but there are issues here which could make a good claim or (depending on some facts which I don't know and which may be contested) coudl be a waste of time.  Some of the questions I would have are:           why didn't you receive any notification?  Was Shopify negligent or was the problem not of its doing, such as their notifications going into your junk folder or you chaning your email address without notifying them?;           does your contract with Shopify bar any claim for consequential damages (without getting into a long technical explanation, the damages you would be seeking are consequential damages)?  If so, and if the law that applies (might be California, might be where Shopify is, might be another jurisdiction specified in the contract) is like that of NY, that clause would be enforceable unless  you could show that Shopify was more than just negligent, but was at least reckless in failing to notify you;           why didn't you remember to renew your website?  Granted Shopify was supposed to notify you, but it wouldn't have been hard to note the date in your calendar;            who owns the intellectual property rights generated by your website under your contract with Shopify?  By using the trade name in commerce, you may have acquired common law trademark rights in it (I assume that you did not register the trademark), even if you no longer have the right to use the website.  If so, you would be able to prevent anybody else from using that name or a confusingly similar one in the same field of commerce.  Probably the Shopify contract precludes this, but you shoud check. It may be worth consulting with a California attorney, preferably one who is familiar with intellectual property law.... Read More
I can't tell you whether you have a "slam dunk", but there are issues here which could make a good claim or (depending on some facts which I don't... Read More
If you are inviting the public, it is like a strip club.  If it is private, then it is not.
If you are inviting the public, it is like a strip club.  If it is private, then it is not.

How will I get my investment back after I withdraw from the LLC?

Answered 14 days ago by attorney Bruce Robins   |   1 Answer   |  Legal Mostics: Business Lawyer
By its nature, there is no guarantee that an investment will succeed; you can lose your money.  Your fellow members are under no legal obligation to return your investment to you.  On the other hand you are under no legal obligation to withdrew from the llc, and you have certain rights as a member.  You can choose to remain a member until and unless the other members buy you out at an acceptable price.... Read More
By its nature, there is no guarantee that an investment will succeed; you can lose your money.  Your fellow members are under no legal... Read More
There are many types of entities under state law and you should consider the best one for you based upon filing fee costs, taxes, insurance costs and ownership structure.  So, this means that an LLC may not be the best structure, an S Corp may be an alternative.  Even if you go with an LLC, there are currently 3 types under Tennessee law.  My office will go over all of these issues to make sure the best alternative is selected.   John R. LaBar.... Read More
There are many types of entities under state law and you should consider the best one for you based upon filing fee costs, taxes, insurance costs and... Read More

What do I have to do to meet legal requirements?

Answered 25 days ago by attorney Bruce Robins   |   1 Answer   |  Legal Mostics: Business Lawyer
Entering into a raffle, i.e. buying a chance to possibly win a prize, but losing your money if your raffle isn't chosen, is gambling, and is probably illegal in your state (I am not admitted to practice in West Virginia, but I'm pretty sure nonetheless).  Sometimes states allow raffles for charity, but I would doubt they would allow it when only 20% of the proceeds are being given to charity.  You should check with the State of West Virginia, but unfortunately I don't know what specific agency there would cover it.... Read More
Entering into a raffle, i.e. buying a chance to possibly win a prize, but losing your money if your raffle isn't chosen, is gambling, and is probably... Read More

A signed signature page being used on a separate document.

Answered a month ago by attorney Bruce Robins   |   1 Answer   |  Legal Mostics: Business Lawyer
It certainly sounds fraudulent.
It certainly sounds fraudulent.
I assume that you mean that you have registered your dba in Florida, and/or in the particular municipality in which you are located, which offers you very little protection, if any, outside of the jurisdiction in which it's registered, and not that much inside.  Since you are just starting, I assume that your dba would not qualify as a common law trademark yet.  The best protection you can get, and it is not absolute, is to register trademarks for any marks you want to protect, including your business name.  You don't need a trademark to sell your own jewelry; trademarks protect various names or symbols which are associated with your business from being misappropriated by others.  For example, McDonald's doesn't want someone using golden arches (which might techinically be considered trade dress, not trademarks, but it's the same concept) to promote a fast food restaurant; that person woudl be trading on a mark which McDonald's has spent time and money building up to represent a particular type of restaurant with particular qualities.  You may, however, need various types of licenses, depending on the jurisdiction in which you will be operating.  Finally, I don't know your particular situation, but as a general rule I'm aware of no reason why you would have to reside in the US to operate a business here. ... Read More
I assume that you mean that you have registered your dba in Florida, and/or in the particular municipality in which you are located, which offers you... Read More

What would I need to work a small dog walking business in NYC

Answered a month ago by attorney Michael D. Siegel   |   1 Answer   |  Legal Mostics: Business Lawyer
You do not need a license beyond a certificate of authority. You should incorporate.  Big issue is insurance.
You do not need a license beyond a certificate of authority. You should incorporate.  Big issue is insurance.



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