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We, 2 co-founders, want to start off our new start-up business. please clarify our questions regarding starting a new business

San Francisco, CA |

1) I work at a fortune 500 company. Could I face any problems in embarking on my own company while working at the fortune 500 company?

2) One of the co-founders holds OPT and other holds U.S. Green card. How could we file our company and hold 50% share of the start-up?

3) Which type of company is best for startup to separate personal finances? And can we show our home address as physical office address?

Attorney Answers 3

Posted

You will both need a sit down for 30 to 60 minutes with a "real" attorney instead of looking for free advice here. You each should have your OWN attorney representing your interests. In the end that money will be money very well spent...

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Posted

Let's take your questions one by one. On the first question, the answer may very well be "yes", you could face a variety of problems since you currently work for a company...not the least of which whether you or your current employer actually own any derivative intellectual property that you may develop for the "new" company; For the second question, we would need to know more information about all of the founders and other key persons to provide an adequate answer; As to which start up company will, in part, depend upon the citizenship of the founders/owners as well as funding strategies, management styles, tax positions and exit strategy. So, yes, you will want to schedule a free initial consultation

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want to select an attorney, or two, to have that first initial "free" 30-60 minute conference call.

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Posted

1. Your Q is so open-ended that one almost is forced to say "Yes, you *could*." However, to the extent that you ensure that your business is different from your employer's existing or planned business activities; you do not use any employer resources or intellectual property for your business; and do not use work time for your own business activities, you can minimize such problems.

2. The intent of your Q is not clear. Even if it were clear, you are raising issues that are way too broad to discuss here.

3. The first part is too broad to answer here. Yes, a home address can be a business's address.

I agree with my colleagues: You need to have a lawyer walk you through these issues.

This information does not constitute legal advice and does not establish an attorney-client relationship.

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