Are there any specific profit sharing rules to be followed?

I agree with the others. Before you do anything, you need to sit down with an attorney and an accountant to go over the financials of the company....

Need an attorney specializing in contracts for partnering up, medical/ cosmetic field.

You definitely need an attorney who is familiar with shareholder/partnership agreements. One concern I have is the term "medical" in describing...

When will LLC start protecting against personal assets?

That is a good question. In this context, I believe that the sole proprietorship would be liable for any cause of action that accrued while you...

Can I open a clothing/retail business under a marketing business?

You definitely will need your mother's consent. Assuming that you do, you can use the same entity that you used in the past. However, this is...

Selected as the best answer

The problem with relying on the fair use defense is that there is really no clear cut rule that you can follow. It is very fact specific and...

In what capacity do i need to be for an LLC if i'm not an owner but i'm financing the project, and i need to apply for loans.

I think that it would depend on what the lender requires. In most instances, you would probably have to be listed as one of the members of the LLC...

I am the owner of Stone Brook Coffee Inc which has contract with FSA of the university. Last week we have been forced out .

The first thing that you would need to do is check the agreement itself. Some contracts may be terminated by a party for any or no reason. It...

Do I need a business lawyer?

Absolutely. Now is probably a good time to review your corporate documents, including your shareholder agreement if you have one, and see what...