We are selling our construction business to an employee who wants to take over and do the same work as we do now, but under his own business name. This means that he is taking all of the leads that we would get from contractors, and all of our wor...
There are two questions posed here - how do you value the business, and how do you prevent an employee from taking your leads and employees. As far as the first question, there are many ways to value a business. There are professional business valuation experts who usually have an expertise in valuing specific types of businesses. One way could be based on annual revenues. Many businesses are valued based on a multiple of annual revenue. An expert would be able to tell you.
Secondly, as far as taking your leads and workers, this could have been prevented at the inception of the relationship if you had had him or her sign a non-solicitation - which means that he/she agrees not to solicit the business of your leads or to take your workers. Short of that type of agreement you might have an action for tortious interference with your business if he/she does take the leads and workers. An attorney would have to evaluate the situation and then advise you.
Good luck.See question
She is not a stock holder or a share holder. I myself am the Pres, Sec and Treasurer. I am being forced into liquidation. I have 50% and he had 50% that was left to her. Is this all legal. I am not happy with how each of the attorney's is hand...
This question cannot be answered without more information.. Was there a Shareholder Agreement or anything in the corporate documents that indicated what rights a spouse would have in this situation? If not, your best bet is to buy her out of the company. I would suggest making her an offer and having payment be over a period of years.
Of course, we have not spoken and I have not seen the corporation's documents, so my answer is generic, and cannot be relied upon as legal advice for your specific situation. I think you should consult with an attorney as soon as possible.See question
I started the application process and had cash on hand for a down payment. I was told to put the money in my bank account and let it marinate for 60 days. I did that .i was pre-approved. Next I found a realtor, a house, signed a contract...next I'...
I think you need to see the process through. However, if it falls through you should certainly send a letter to the broker and if no success, possibly file a small claims action and complain to the PA insurance commission.
Good luck!See question
Yunnies started out with a fictious name and and had their sign made and hung. Several years later they incorporated and added Catering Inc . They do not want to have to get a new sign with catering inc added
If Yummies Catering, Inc. has a fictitious name registered for "Yummies" then they don't need the full name on the sign. That is the reason for filing a fictitious name registration. However, before anyone could properly answer this question he or she would need to review the corporate filings and see what has been filed and by whom.See question
I am considering buying into a franchise. Do I need to form a LLC or other business? Do I need to obtain a business lisence? Is there anything else I should know?
It is my strong recommendation that you speak with an experienced franchise attorney (anywhere in the US) that can assist you in evaluating the franchise opportunity. This is an important commitment that you will be making and you should consult with an attorney who is an expert in that field of law.
As far as the LLC or other type of entity, once you consult with an experienced franchise attorney, he or she should also be able to advise you on the proper entity that should be formed.
Good luck.See question
Just don't have the monthly income to make my business work any longer in it's current fashion. Have business credit card debt and a lease on a unit in a business park. If the landlord gets a judgment for the remainder of the lease and I default o...
It is tough to answer your question without reviewing the lease, but typically it is a good idea to be honest with the LL and see if you can work out a settlement. That, or the sle of your business to a third party are usually the best ways out.
Good luck.See question
Is a EIN number all I need to run a business? Also I found it in California but I am running a business in Pennsylvania how do I fix this? I'm running a concert promoting company.
Did you form a corporation or a limited liability company and then obtain an EIN? If so, you will need to either file in PA as a "foreign corporation" or "foreign LLC" or dissolve the CA entity and file for a new corporation or LLC in PA. If you are a sole proprietor, I am not sure why you would have an EIN - your social security number would suffice.
Good luck.See question
Can I open a business for the purpose of selling franchises, or are there requirements that would prohibit this?
It is always recommended to have an existing business that you have established before you franchise. The existing business serves as the model for the franchise. To comply with franchise laws you will need a Franchise Disclosure Document prepared and it will need to be registered with the State of NY (assuming that is the headquarters) and contain information on the Operations Manual, training procedures and, audited financial statements (again, if headquartered or selling in NY). Franchise law is complex and costly, a proven model is not a requirement, but is highly recommended.See question
I registered an LLC as a single member in PA State. Now I want to create DBA's under the LLC umbrella. How do I do that; and also do I have publish it in the newspaper and provide proof I did so? Above all, I want to keep my business private fr...
You would file a fictitious name registration with the Commonwealth of Pennsylvania for each name. The owner of the fictitious name would be listed as the LLC. However, please realize that filing the fictitious name registration with PA does not give you any rights to the name. To obtain rights to the name you need to file a trademark with the US Patent and Trademark Office for each name or logo.
You should consult an attorney to obtain advice on the best method to accomplish your goals. A fictitious name registration is meant for the situation in which a business entity or person is operating a business under a name that is different than their legal name (eg: XYZ, Inc. doing business as Mama's Pizza). Mama's Pizza in that instance is a fictitious name and needs to be filed with the Commonwealth of PA. However, to protect the name so that other businesses don't use Mama's Pizza, you would need to register the name and any logo with the U.S. Patent & Trademark Office. .See question
I am a private citizen. Recently a company offered me a large deal and I know another company who I can sell this deal to and make a decent profit. My concern is that when I go to tell the buyer about the deal they will cut me out because I know v...
I am sure that most of the attorneys on Avvo will give a free consultation.See question