Dana Howard Shultz’s Answers

Dana Howard Shultz

Oakland Business Attorney.

Contributor Level 20
  1. LLCs as "shell companies" where I am the only member of an LLC that in turn is the only member of another LLC doing the business

    Answered over 1 year ago.

    1. Dana Howard Shultz
    2. Robin Mashal
    3. David Andrew Mallen
    4. Douglass S Lodmell
    5. Gary Stephen Brown
    5 lawyer answers

    It strikes me that it would be better to have one LLC plus lots of insurance (commercial general liability plus whatever additional insurance is appropriate for your type of business). Furthermore, if you have sufficient assets at risk, you should retain a specialist in personal asset protection.

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  2. Given that an H1B holder can only be "passively involved" in a business (e.g. LLC), are the following activities "passive"?

    Answered 11 months ago.

    1. Dana Howard Shultz
    2. Alexander Joseph Segal
    3. Ripal Patel
    4. Mario Steven Zapata
    5. Karen-Lee Pollak
    6. ···
    8 lawyer answers

    No. Each of the activities you identified is part of a business's day-to-day operations. The post at the link below discusses this issue.

    13 lawyers agreed with this answer

  3. Manufacturer wants to introduce my new invention to its International giant retailers but offering nothing else but 5% royalty?

    Answered 8 months ago.

    1. Dana Howard Shultz
    2. Lucas Seth Michels
    3. Daniel Nathan Ballard
    4. Michael Charles Doland
    5. Luca Cristiano Maria Melchionna
    6. ···
    6 lawyer answers

    You are asking a business question rather than a legal question. That said, a business lawyer with experience in the relevant industry may be able to provide some guidance. Use Avvo's Find a Lawyer to locate such an individual. No one can provide a definitive answer on Avvo because much more information must be provided.

    12 lawyers agreed with this answer

  4. How everyone's money can be safe if me and few friends are getting together to buy and sell real estate?

    Answered over 1 year ago.

    1. Dana Howard Shultz
    2. Michael Charles Doland
    3. Nicholas Basil Spirtos
    4. Scott Gregory Nathan
    4 lawyer answers

    The short answer is that you need to form a legal entity, such as a limited liability company, to hold the money and the properties and an associated agreement that governs the parties' rights and obligations. The slightly longer answer is that you need to retain a local real estate lawyer and an accountant to help you make sure that everything is done appropriately from the legal perspective and as tax-efficiently as possible. You cannot do this correctly by yourselves.

    12 lawyers agreed with this answer

  5. How should Capitalize in LLC? how important is to give amount in capitalization when LLC has Two partner?

    Answered 10 months ago.

    1. Dana Howard Shultz
    2. Pardis Patrick Ashouri
    3. Michael Charles Doland
    4. Lubna Khan Jahangiri
    5. Terrence Jay Moore
    5 lawyer answers

    I agree with Attorney Ashouri. It is critical - for legal and accounting purposes - to specify each member's capital contribution in the Operating Agreement. (As concerns accounting, please see the post at the link below.)

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  6. When one business acquires another business...contracts, costs and customer care..three questions

    Answered about 1 year ago.

    1. Dana Howard Shultz
    2. Michael Charles Doland
    3. Timothy John Broussard
    3 lawyer answers

    Please see the "What If the Health Club Is Sold to a New Owner?" section of the Department of Consumer Affairs publication at the link below. You almost certainly cannot obtain definitive answers to your Qs on Avvo. As the publication suggests - and if the amount of money at stake is sufficiently high - you would need to retain a lawyer to examine the relevant facts and advise you. Indeed, a lawyer probably will elicit greater cooperation from the new owner than you can on your own.

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  7. After incorporating an s-corp, are there any mandatory steps?

    Answered over 2 years ago.

    1. Dana Howard Shultz
    2. Kenneth Allyn Sprang
    3. Michael Charles Doland
    4. Shawn Regis Jackson
    5. Bradley Richard Thompson
    5 lawyer answers

    In addition to the mandatory matters that my colleagues have cited, there are many other matters that you should at least be aware of, even if you choose not to act on them. Please see the nine-page document at the link below.

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  8. Once you got a 'patended business/idea' have a contract how do you negotiate with companies?

    Answered over 2 years ago.

    1. Dana Howard Shultz
    2. Arash Shirdel
    3. Timothy Miranda
    4. Michael Charles Doland
    5. Kevin Brendan Murphy
    6. ···
    6 lawyer answers

    Although your scenarios seem unrealistic, the answer is that you retain a lawyer who is experienced in selling and licensing intellectual property who will protect your legal and business interests during contract negotiations.

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  9. What to do to dissolve a 50-50 general partnership.

    Answered over 1 year ago.

    1. Dana Howard Shultz
    2. Brad S Kane
    3. Kevin Samuel Sullivan
    4. Jeffrey Ferris Clark
    4 lawyer answers

    As a practical matter, you may have a couple of approaches available (I know, from having advised clients in similar situations recently, that many details can get in the way). As explained in the post at the first link below, half of the partners can elect to dissolve the partnership. However, there are steps that must be taken to wind up the partnership's business. Form GP-4 is optional and merely provides public notice once the dissolution has taken place - that form does not, itself,...

    10 lawyers agreed with this answer

    1 person marked this answer as helpful

  10. Thoughts on purchasing a luxury watch in cash...

    Answered over 2 years ago.

    1. Dana Howard Shultz
    2. Michael Charles Doland
    3. John Warwick Caldwell
    3 lawyer answers

    Totally apart from any legal issues this might raise (inappropriately avoiding tax and money-laundering laws, etc.), this transaction appears potentially to be covered by the adage "A fool and his money are soon parted." It is reckless, to say the least, to give a huge amount of cash to a stranger. There is a significant likelihood that your friend will end up both without the cash and without the watch - and possibly with a credit card charge, too. Your friend should do business only...

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