Eric J Camm’s Answers

Eric J Camm

Seattle Business Attorney.

Contributor Level 12
  1. Adding equity partners to an LLC

    Answered 12 months ago.

    1. Eric J Camm
    2. Robert John Murillo
    3. Mark Allen Land
    4. Frank A. Natoli
    4 lawyer answers

    If you want to limit the equity split to the new brand being created then you should consider forming a new or subsidiary entity to your existing company to house this brand. That would insulate your current business from this new venture to some degree, and would provide you the flexibility to divide up equity in the new enterprise based on anticipated contributions. It would also make it easier to wind down or dissolve in the event things do not go as planned. I would meet with an...

    Selected as best answer

  2. Can i be sued personally if my LLC is being sued?

    Answered about 1 year ago.

    1. Richard E Weltman
    2. Eric J Camm
    3. Alan James Brinkmeier
    4. Fredrick P Niemann
    4 lawyer answers

    Generally speaking LLC members are not personally liable for the obligations of the Company. There are exceptions to this general rule, however, so it is definitely a good idea to talk to a good litigator in NJ and get more educated on corporate law and the limited liability shield that you are operating under as a member of an LLC.

    6 lawyers agreed with this answer

  3. What is best business structure to manage rental properties?

    Answered over 1 year ago.

    1. Eric J Camm
    2. Dennis Michael Phillips
    3. Marshall C Deason Jr.
    4. R. Russell O'Rourke
    5. Joseph Franklin Pippen Jr.
    5 lawyer answers

    Generally for small or closely held businesses such as this you'd want to form an LLC. In the business of owning and managing rental properties you may want to form an LLC for each property you obtain (having the LLC own the property and thus limiting the liability and scope of risk to that 1 property) and then have an LLC that operates as the management company for these properties that you have obtained. You should contact a business attorney in Florida who will be able to explain this...

    6 lawyers agreed with this answer

  4. Dissolve CA LLC to form Delaware C-Corp

    Answered about 1 year ago.

    1. Phillip Monroe Smith
    2. Frank A. Natoli
    3. Eric J Camm
    4. Eric Stephen Pommer
    4 lawyer answers

    Investors tend to prefer Corporations over LLCs generally. The state of incorporation can be important to some investors or certain VC funds, but what is undoubtedly important in this analysis is ensuring that your incorporation (in whatever state you choose) is done properly and that you have the appropriate governance documents. Most sophisticated investors are going to want to see some due diligence on your company when you approach them regarding investment. They want to see that...

    5 lawyers agreed with this answer

    1 person marked this answer as helpful

  5. Do I resign as a director/officer before or after I sell my corporation?

    Answered over 1 year ago.

    1. Tali Alice Buchman
    2. Eric J Camm
    3. Peter Collins Freeman
    4. Elizabeth Jane Chandler
    4 lawyer answers

    Normally you'd wrap up your resignation along with the appointment of the new BOD and officers (probably the buyers) at the same time that you executed the purchase and sale for your shares in the corporation. You wouldn't want to resign prior to execution of the deal, and then have it fall through for some reason. It's up to you, but I'd consult with a business attorney in CA who handles these kinds of deals, as they will be able to help problem solve issues like this, as well as what...

    5 lawyers agreed with this answer

    1 person marked this answer as helpful

  6. I want to start my own business as a real estate investor under a S Corporation status am I able to apply using my home address?

    Answered over 1 year ago.

    1. Eric J Camm
    2. Steven John Clausen
    3. Robert Neil Newton
    4. Achmed Mirari Defreitas
    4 lawyer answers

    You should be able to form either an LLC or a Corporation using either your address or acquiring a PO Box to serve as the address for the business. You will be required to have a registered agent that has a physical address, but you can be the registered agent and use your home address for that, or hire a company to serve as your registered agent. An "S Corporation" is a tax election that you make, it's not an entity type per se. You can find more information about how to elect for S...

    5 lawyers agreed with this answer

    1 person marked this answer as helpful

  7. How should I form this business?

    Answered over 1 year ago.

    1. Robert Neil Newton
    2. Eric J Camm
    3. Terry Lynn Thomas
    4. Robbyn P. Wysocki
    5. Loren A Piel
    6. ···
    8 lawyer answers

    An LLC is great for smaller closely held companies (ie - small # of founders). LLCs are owned by the Members and are managed by the members or a designated manager. It is a very flexible form of business entity and provides a personal liability shield for the founder(s) provided that they maintain corporate decorum and do not misuse the corporate structure (ie you can't use it for something illegal and expect to be shielded from personal liability). LLCs also have certain tax advantages,...

    5 lawyers agreed with this answer

    1 person marked this answer as helpful

  8. Is going to a top-tier law school worth the debt?

    Answered over 2 years ago.

    1. Eric J Camm
    2. Christine C McCall
    3. Gary S. Sinclair
    4. Brian S Wayson
    4 lawyer answers

    Going to a top tier school can be beneficial if you are interested in pursuing a career at a firm where prestige is valued in the hiring process. As mentioned in the first answer - the big law firms in most major markets (national firms with multiple offices), and many of the largest companies in the United States tend to focus their hiring in the top tier schools. If you are not interested in big law, however, or want to build your career somewhere removed from the major markets and urban...

    Selected as best answer

  9. Trademark question

    Answered about 1 year ago.

    1. Paul C Jorgensen
    2. Maurice N Ross
    3. Eric J Camm
    4. Molly Cristin Hansen
    5. Frank A. Natoli
    6. ···
    9 lawyer answers

    If what you are using is "confusingly similar" to a protected mark then you may run into some issues. The idea with protecting your IP (your trademark) is to ensure that others cannot profit or trade off of your brand. It sounds as though you are trying to make the connection with the consumer to these protected brands so I'd certainly suggest that you consult with counsel before moving forward with this.

    5 lawyers agreed with this answer

  10. Can you be a single member LLC even though you hire people to work for equity?

    Answered about 1 year ago.

    1. Michael Charles Doland
    2. Eric J Camm
    3. Dana Howard Shultz
    4. Stephen Joseph Cipolla
    5. John P Corrigan
    5 lawyer answers

    If they are receiving equity then it sounds like they would be becoming members in the LLC. At that point you would no longer be a single member LLC. You may want to meet with an attorney to go over your plans in more detail and discuss how you are defining the "equity" that you are planning on giving out.

    5 lawyers agreed with this answer