I am willing to lose the $1000.00
Without seeing the written agreement you signed, it is not possible to answer this question.See question
If I set up a DBA, or LLC - and then open a small-business bank account under a DBA or LLC - can anyone do research to find my personal name behind it? Thanks for input!
The short answer is yes, someone can do research to find your personal name behind the DBA or LLC.
A follow-up question is: exactly what information are you seeking to protect, and why? If it is protection from personal liability you are seeking, you can minimize your risk of personal liability for the debts of the business by (1) choosing a form business organization that creates a separate legal person (such as a corporation or LLC), (2) following all of the corporate or LLC formalities to operate the business as a separate entity from your own "person" status as an individual, (3) limiting your liability by contract, to the extent that the law permits you to do that, and (4) obtaining adequate insurance to protect the business and you, personally, from liability.
I have stated above the main elements of a strategy to limit liability, assuming that's what you're after with keeping your identity confidential. I recommend that you talk with an Illinois attorney to develop a solid plan of protection for your business and yourself.See question
We have not paid royalty fees for 5 years. I now have someone who wants to buy the business, loves the registered name. Since the franchisor knew we were still operating and did nothing about it, do I have the right to sell my business with the ...
It is hard to say without seeing your agreement. Contracts often provide that one party's failure to insist that the other party perform all of its obligations does not waive the first party's rights. In other words, your contract may state that the franchisor's failure to demand that you pay the royalty fees does not excuse you from the obligation to pay them. Without knowing more about the agreement, I would conclude that you still owe those royalty fees (probably plus interest or late charges), unless there is some specific contract language that excuses you from paying them (something I doubt, based on the fact that you have not disclosed any of the agreement's content).
Likewise, the franchise agreement probably spells out the terms and conditions upon which you can sell the business, whether the franchisor has a right of first refusal, and various other conditions that must be considered before you sell, or even offer to sell, the business.
You need to consult with an Illinois lawyer to discuss all of these issues (and I am not stating a complete list of possible issues here). Also, you should have a lawyer represent you in the sale of the business, assuming you can, indeed, sell it. The lawyer may also be able to negotiate a compromise and settlement of the outstanding royalty fees with the franchisor.See question
And if it is illegal and assessments are due should they be paid to individual still?
You will have to provide more facts about what is going on and why you are interested in the situation. Are you one of the unit owners? The association may have been dissolved for failure to file its annual report, but you don't offer enough information. As far as what is "legal" or "illegal," it depends on the contract the association had with the property manager. Also, is the property manager still providing services?See question
Is a model release form required if someone agrees to pose with me in pics for me to put on my personal site. (not for sale) just pics to share. Does it matter if their face is seen or not or blurred or blacked out or not visible? If I need to get...
There is really no "generic legal form." You may need two releases: one from the model (protection of their rights to use their likeness) and one from the photographer to license the photo for your site. Unless you have some other written agreement already, the photographer owns the copyright in the photo. These forms have some specific requirements, so it would be unwise to do it yourself. Hire a lawyer to do this work for you.See question
Hi Demitry, I can probably help you. Feel free to contact me.See question
I am developing a social network website. users pay $1 per message post. I wanted to know if i need to register a company and do i need to open a business account.
There are a number of reasons to register a company to operate your social networking site. Establishing a business as a corporation or limited liability company can limit your personal liability for the debts and other obligations for the business. From what you have mentioned, it sounds like an interesting project. There are numerous other legal concerns that you ought to consider when implementing an e-commerce Web site. Those concerns include, but are not limited to, your risk of being sued in another state, protecting children's privacy, and limiting your liability for copyright infringement due to the content your users post on the site. I counsel Internet-based businesses and generally recommend multiple layers of protection, such as setting up a company that limits your personal exposure, having good terms of service, acceptable use, and copyright policies posted on the site, and obtaining appropriate insurance coverage. I hope this helps.See question
It used to be a coop housing with 88 units. It was involuntarily dissolved by secretary of state 20 years ago. The land trustee did not record deed, and no property was conveyed to the trustee. Illinois laws require land trustee record deed an...
With all due respect, you really do need to speak with a lawyer about this. Feel free to contact me, if you like.See question
I plan to open an on-line spice business. Though my spices are imported direct from Sri Lanka, for now, I plan to only ship within the United States. What if any taxes would I add to the sale and will they differ from state to state? I reside in ...
You will need a Skokie business license to operate your business if the business has a physical presence in Skokie, Illinois.
You will need to collect Illinois sales taxes from customers whose orders are shipping to a location within Illinois, and in any other state where your business has a physical presence such as an office, warehouse, or distribution center.See question
My partner and I are equal partners of an LLC. Last year, we made the same amount of capital contribution to the LLC and equally deducted our loss. This year, only I made capital contribution and he has no capital in his equity account after last ...
First, your operating agreement probably specifies how it is to be amended; you will need to follow that predefined procedure.
Second, will there be any capital remaining in your equity account? It appears you have elected to be taxed as a partnership, rather than a corporation, right?See question