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Eric J Camm

Eric Camm’s Answers

226 total


  • Do I need a Dba?

    I want to start a small boutique and resale wholesale clothing. At this point I just want to buy small and sale at a flea market. I know I need a resale permit toto toeven be able to buy from wholesalers, but if I don't plan on getting a store yet...

    Eric’s Answer

    Ms. Reed is right. You should learn more about the steps involved with starting a business because that is what you are describing in your question. The main inquiry at this point should revolve around the decision about whether to incorporate or not. If so -what entity type makes the most sense. Learning more about that process will help you decide how to move your boutique forward.

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  • Can I create an online service based on gifts and honor instead of loans and equity without being regulated?

    I'd like to allow people to work with money gifted from others, that they may or may not 'repay' somehow (maybe money). No contracts, just a recorded honor system. I'm not concerned about tax. Could I do this without being regulated?

    Eric’s Answer

    This is very similar to kickstarter. Bottom line is that when it comes to other people's money - there are a lot of regulations and pitfalls. You will need experienced legal counsel to help you out with this to avoid potential liability issues.

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  • If I own an LLC; can I buy my own personal property for use for the LLC?

    I do not actually own an LLC but I was wondering: When I do start my own computer business; can I legally purchase my own personal computer from myself for the business to use? Basically my LLC would be purchasing my family's computer so ...

    Eric’s Answer

    I would sit down for a consultation with a business attorney who works with early stage companies. To maintain the appropriate liability separation you need be certain that you are doing things in the appropriate manner. As mentioned by a previous answer - the value of a used computer is going to be negligible and it would leave your family without a computer anymore (can't sell it to business and then continue to have it for family use all the time).

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  • Can i be sued personally if my LLC is being sued?

    I own an LLC team and being sued by a coach. Can I be held personally for a lawsuit if the team did not make any money financially? We did have a contract drawn up, however, I did not sign it because the coach had violated many parts of the contr...

    Eric’s Answer

    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.

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  • What is my recourse? Can I make the builder either refund my price or build me another trailer?

    I special ordered a heavy trailer for a specific use. It had certain measurement requirements. I had to go through a dealer where I live in Oklahoma. The builder is in Texas and I was required to pick the unit up there. We went over all my require...

    Eric’s Answer

    You should review any agreements that you signed with the Dealer and the Builder to determine how disputes will be resolved. I would contact a good business litigator in your area to help you understand those documents and set forth what recourse you may have to recover any damages you incurred as a result of any breach of the executed contracts.

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  • I just finished a working prototype of Internet consumer based website ,and now what........?

    hello ,I just finished a SASS based web app ,and want to launch my startup within 1 or 2 weeks . i have only my desired domain name ,nothing else. So I have decided incorporate a corporation or llc (because of helping me to get a payment g...

    Eric’s Answer

    There are definitely a number of issues that face start ups. Entity structure, protection of intellectual property, capitalization, and of course ensuring that whatever you are doing is in compliance with any existing regulations in your industry of choice.

    From your question it sounds like you have put some thought into a number of these issues, but it would still be a very good idea to sit down with experienced counsel who works with start ups and make sure that as you launch your new enterprise - you have covered all your bases. San Francisco is a great town for new companies and there are numerous lawyers with great experience helping tech start ups. I'd seek out a few for a consultation.

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  • I'm leading an EU startup and will have to determine share allocation. Of 15 people involved 8 are core plus me. What is fair?

    We have not incorporated yet, no written agreements, thinking of EU and Delaware (R&D - IP). Bootstrapping + sweat equity has resulted in 0 debt and minimal investment (500 USD). All involved are top professionals in their respective fields (codin...

    Eric’s Answer

    Sounds as though you are very knowledgeable about this situation and have done a good job positioning your start up. As mentioned in the previous response, immediate issues to consider are establishing a valuation for the enterprise and then using that valuation to devise a capitalization that is equitable and addresses issues of control and ensuring that everyone is committed long term. There are also going to be other issues such as IP protection and ensuring that all work to date is properly assigned into the new company.

    I would advise you contact start up counsel as soon as possible to go over these issues in greater detail and ensure that you are properly protected. Startup work can be complex and it's important to make sure that everything is handled properly from the beginning to avoid any unnecessary entanglements down the line.

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  • Is it possible to remove a silent partner for recklessness in an llc in PA.

    Vindictive, destructive behavior costing the business millions. Can silent partners lose their rights in an llc in PA?

    Eric’s Answer

    As mentioned in previous answers - look to the corporate governance documents. If those aren't helpful look to the statutory obligation of members in LLCs in PA. Generally you owe a fiduciary duty to your company and if you are in breach of that duty then the other members may be able to take action to recover damages or begin the dissolution of the entity.

    If millions of dollars are truly at stake here then you need to get a good business attorney retained and working on this immediately. this is not something that should be left up to individual research. Get an experienced professional on this as soon as possible to limit the damage.

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  • What State to form My LLC in California or Nevada for parent Company?

    I am getting ready to form an LLC for my business i am starting and I am getting confused on what state to file in for best rate. I am seeing that California charges an $800 franchise fee within 4 months and yearly afterward. I am mainly forming f...

    Eric’s Answer

    I'd consult with a California attorney on this. Regardless of the state of formation if it is determined that you are doing business in California with the LLC then you'll have to register the company in CA and will be subject to the annual franchise fee anyhow.

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  • Consequence of forging seller signature n a real estate document

    to obtain earnest money to be released to seller

    Eric’s Answer

    The consequences could be both civil and criminal depending on exactly what happened. Aren't enough facts here to know really. I'd consult an attorney in CA as soon as possible to learn more.

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