Jessica Tasse Olmon’s Answers

Jessica Tasse Olmon

Santa Monica Business Attorney.

Contributor Level 5
  1. Subcontractor Agreement and Contracting Agreement?

    Answered 12 months ago.

    1. Jessica Tasse Olmon
    2. Nicholas Basil Spirtos
    3. Peter Collins Freeman
    3 lawyer answers

    You will most likely need an Independent Contractor Agreement between you and your contractors and a Services Agreement between your company and your customers. Here are some of the points that an Independent Contractor Agreement should include: (1) the services your contractors will provide, (2) how and when you are going to pay them, (3) what types of insurance they are required to have, (4) how your liability is limited, (5) that they contractor is a contractor and not an employee (and why),...

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  2. Can LLC members names be kept private from public?

    Answered about 1 year ago.

    1. Jessica Tasse Olmon
    2. Jeff Hoang Pham
    2 lawyer answers

    If you form a manager-managed LLC in California, you do not have to disclose the members' names in the Articles of Organization or the Statement of Information. These are the documents that are publicly filed with the Secretary of State. It is up to you whether you disclose the members' names on any websites or in the course of business.

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  3. If I signed a one year contract with a non compete clause, after that year if I continue employment will that clause hold?

    Answered over 1 year ago.

    1. Marilynn Mika Spencer
    2. Raphael Samuel Moore
    3. Steven Mark Sweat
    4. Jessica Tasse Olmon
    5. Michael Raymond Daymude
    6. ···
    8 lawyer answers

    The State of California has a strong public policy against agreements not to compete. Therefore, all non-competition agreements are presumed to be invalid. Limited exceptions to this rule include agreements not to compete on the sale of a business or dissolution of a partnership. Even if your non-compete clause is invalid, you should be careful not to violate your employer's rights. For example, you cannot use your employer's trade secrets (client lists, ways of doing business, etc.)...

    6 lawyers agreed with this answer

  4. Could Directors and Officers or Errors and Omissions insurances make an LLC unnecessary?

    Answered 11 months ago.

    1. Jessica Tasse Olmon
    2. Phillip Monroe Smith
    3. Michael Charles Doland
    4. Eric J Camm
    5. Sagar P. Parikh
    5 lawyer answers

    The simplest and most effective way to protect your personal assets is to form an LLC or corporation and to run it properly. Learning how to properly run your company is the greatest benefit of working with an attorney when you form the company. You are correct in thinking that insurance can protect you from personal liability, but insurance only protects you up to the limit of your policy and, as Philip mentioned in his response, your policy could be subject to exclusions. An...

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  5. Can a 50/50 LLC itself buy its Member's 50% interest?

    Answered over 1 year ago.

    1. Robin Mashal
    2. Jessica Tasse Olmon
    3. Michael Charles Doland
    3 lawyer answers

    If you have a California LLC, the LLC can buy an interest from one of the members. First, you should check your operating agreement to confirm that the transfer of a 50% interest in the company does not dissolve the company. Second, check your operating agreement to see if the sale of a member interest is addressed. It is important to follow the process laid out in your operating agreement (and document it in writing), even though it only seems like a formality. If your agreement does not...

    4 lawyers agreed with this answer

  6. Can my law practice operate as a dba of my California sub s corp?

    Answered 6 months ago.

    1. Michael Charles Doland
    2. Pardis Patrick Ashouri
    3. Jessica Tasse Olmon
    3 lawyer answers

    You can only operate a law practice as a professional corporation (which can be taxed as a C or S corporation), a flexible purpose corporation, a public benefit corporation or a nonprofit corporation. As far as the fictitious business name, you will need to register the corporation with the State Bar if you use a name that is something other than your actual name.

    3 lawyers agreed with this answer

  7. Should I continue to file as an S-Corp or Sole Proprietorship?

    Answered about 1 year ago.

    1. Jessica Tasse Olmon
    2. Brad S Kane
    3. Amanda Marie Cook
    4. Gary Stephen Brown
    4 lawyer answers

    As a sole proprietor, you are responsible for the debts and obligations of your business. The benefit of forming an S-corporation (assuming you form and run the company properly) is that you can protect your personal assets from business debts and obligations such as personal injury at your office, employee lawsuits, etc. With that being said, commercial liability insurance also protects your business. So the real benefit of the S-corporation is for any liability above and beyond the...

    1 lawyer agreed with this answer

  8. What does my equity amount mean?

    Answered 10 months ago.

    1. Sagar P. Parikh
    2. Robert John Murillo
    3. Robert V Cornish Jr.
    4. Jessica Tasse Olmon
    4 lawyer answers

    Equity is an ownership interest in the company you are working for. 200,000 shares doesn't mean anything until it is compared to the total amount of shares outstanding. If there are only 200,000 shares outstanding, you would own the entire company. If there are 2 million shares outstanding, you would own 10% of the company. I suggest contacting a business attorney to help you negotiate your agreement with the company. They will make sure that you are being properly compensated for your...

  9. As a former CFO of a start-up, am I responsible for start-up owner's debt? Details below

    Answered about 1 year ago.

    1. Pamela Koslyn
    2. Jessica Tasse Olmon
    3. Jerome S Cohen
    3 lawyer answers

    As long as you did not sign anything guaranteeing an obligation of the company (either when it was unincorporated or after it was incorporated) or sign anything as an individual (rather than as an officer of the company), you probably do not have personal liability. These are somewhat complex issues related to the content of any documents you signed on behalf of the company and how you signed those documents. I would recommend that you speak with an attorney who can review all relevant...