Michelle Hayden Bomberger’s Answers

Michelle Hayden Bomberger

Bellevue Contracts / Agreements Lawyer.

Contributor Level 7
  1. My lease on a commercial property is ending in May. Do I need to make a formal request for a renewal?

    Answered over 2 years ago.

    1. Michelle Hayden Bomberger
    2. Robert John Murillo
    3. Bryant Keith Martin
    4. Haytham Faraj
    4 lawyer answers

    The landlord is not required to renew the lease. If the current lease has specific rights or terms of renewal, those would govern this situation. If no mention of renewal is in the current lease, if you remain in the space following the term of the lease without specific permission from the landlord, the provisions of the lease regarding "holding over" following the end of a lease term would apply. Often the "holding over" rent is significantly higher than the regular rent amount. In...

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  2. LLC partner won't buy me out of company. What do I need to do to ensure I get what I put into it and not be liable for his debt.

    Answered about 1 year ago.

    1. Michelle Hayden Bomberger
    2. Pamela Koslyn
    3. Joan Marie Swartz
    4. Celia R Reed
    4 lawyer answers

    As a Member of an LLC, you will not be personally responsible for most debts of the business. However, some debts such as wages and taxes can flow through to the owners and any contract you personally guaranteed will be your responsiblity. If you have an Operating Agreement, its terms may address how a buyout would occur. Even if no Operating Agreement exists, you can negotiate a buyout that releases you from liability associated with the business. This release doesn't prevent tax...

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  3. Which state to start business? Which form of business llc, s corp, corp or sole proprietor? Do I need a trademark? App & Website

    Answered about 1 year ago.

    1. Jerry A Stimmel
    2. Qingqing Miao
    3. Bruce E. Burdick
    4. Michelle Hayden Bomberger
    5. Michael P Matesky II
    6. ···
    8 lawyer answers

    As others have stated, the questions you raise are important and complex. The answers depend on your long term goals. You want to setup the business with the long term goals in mind. Key considerations include who the owners will be, who will manage the business, taxation of the business and owners, liability protection and administrative costs. The short term costs of engaging a CPA and attorney to set the company up correctly will be greatly outweighed by the ease of growing the company...

    5 lawyers agreed with this answer

    1 person marked this answer as helpful

  4. I am working on opening a basketball academy but I m having trouble deciding weather to work as a non profit or for profit LLC?

    Answered 5 months ago.

    1. Michelle Hayden Bomberger
    2. Gavin Nathaniel Johnson
    3. Saphronia R Young
    4. Samuel Watson Eastman
    5. Peter Joseph Lamont
    5 lawyer answers

    There is a distinct difference in a non-profit and for-profit entity. A non-profit functions for the benefit of its constituents. A for-profit entity functions for the benefit of its owners or shareholders. If you are operating a non-profit, you do not 'own' it. Instead, it has a Board of Directors and Officers that make decisions but any money made goes back into the operations. You may receive a salary if you're working in the organization but if you dissolve or sell the non-profit, you...

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  5. I'm looking for a lawyer to provide the following services: what type of lawyer should I consult?

    Answered 2 months ago.

    1. Howard Ramsey Morrill
    2. Michael Charles Doland
    3. Roberto H. Castro
    4. Michelle Hayden Bomberger
    5. Kendra L. A. Stephen
    6. ···
    9 lawyer answers

    You should have a legal advisor that understands your business and can guide you through the issues you will encounter as your launch and grow the business. Large companies have a "General Counsel" position; small companies usually do not, but they should have a legal advisor they regularly contact to help them understand risks and take steps that mitigate these risks. The law firm should help you think through all your business relationships including formation, contracts with third parties...

    4 lawyers agreed with this answer

  6. In a business license is there a difference between the use of "and" and "&", and can you use either or simultaneously?

    Answered about 1 year ago.

    1. Michael Thomas Smith
    2. Saphronia R Young
    3. Michelle Hayden Bomberger
    4. Erin Morgan Klug
    4 lawyer answers

    I agree with the prior attorneys but wanted to add one point. Trademarks and tradenames (or DBAs) are different things. When you mention your logo, you are discussing trademark which has nothing to do with the tradename. You must register all tradenames (i.e. any name or brand you are doing business under) with your entity at the state level. Your trademark is the words, graphics, colors or other elements that connect the customer to your business (think of the Nike swoosh or the word "...

    3 lawyers agreed with this answer

  7. My wife part owns a business 50/50 but when they started the business they never made out a contract, now she would like to sell

    Answered over 1 year ago.

    1. Peter J Smith
    2. Michelle Hayden Bomberger
    3. Michael Leo Potter
    4. Frank Anthony Natoli
    4 lawyer answers

    A written agreement between the two owners would likely have helped to make the purchase/sale easier, but the owners can agree at any time to buy one another out. The specific terms of their buyout agreement would be negotiated between them and then documented in a purchase agreement.

    3 lawyers agreed with this answer

  8. What does a reasonable Term Sheet or agreement include?

    Answered about 3 years ago.

    1. Michelle Hayden Bomberger
    2. Jonathan A Baner
    2 lawyer answers

    Almost all terms in business to business contracts are negotiable. I wouldn't say there's a "standard" for the terms. You should look at the relationship based on what each party's needs are and respond with reasonable terms to protect both parties. If they are really interested in the relationship, they'll pay attention. It's not uncommon to see agreements start out really one sided and negotiated to a balanced arrangement. For specific terms, we'd want to walk through who is responsible...

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  9. Are non compete contracts in VERY large companies, where you work(ed) in a totally unrelated area to the new area, enforceable?

    Answered about 1 year ago.

    1. Saphronia R Young
    2. Michelle Hayden Bomberger
    2 lawyer answers

    In addition to Ms. Young's suggestions, I would look closely at the language of the non-compete. Often what initially seems like a very broad non-compete is actually narrower and less restrictive when you parse out each word or segment of the provision. An attorney can help determine based on your particular situation whether the provision is enforceable and what rights you have.

    2 lawyers agreed with this answer

    1 person marked this answer as helpful

  10. Will a buy-sell agreement allow me to add a business partner to my existing business? Or what other documents will I need?

    Answered about 1 month ago.

    1. Michelle Hayden Bomberger
    2. Clinton Hugh Wilcox
    3. Shawn B Alexander
    4. Pamela Koslyn
    5. Cicy F. Wong
    5 lawyer answers

    When you add another owner to the business, you must document the new owner's purchase of his or her shares and update the corporate records. In addition, it is highly advisable to execute a Buy/Sell Agreement (also known as an Operating Agreement for an LLC or Shareholder Agreement for a corporation). This document discusses governance of the company as well as restrictions on transfer of the ownership if an owner withdraws, quits, dies, or other exit from the business.

    1 lawyer agreed with this answer

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