Questions answered by Snehal B Patil

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Should my newly-incorporated Delaware company reimburse the costs spent during pre-incorporation costs to me?

Snehal's answer | Answered on October 07, 2015

You may either reimburse yourself, issue stock against it or choose to treat it as a loan to the company. Often, founders will not immediately...

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When hiring independent contractors, does NDA and independent contractor agreement suffice and safely guard company's IP rights?

Snehal's answer | Answered on October 07, 2015

You will either need a standalone IP assignment agreement or a provision in your independent contractor agreement to protect your IP rights. ...

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A company is asking me to turn their in-house proof of concept into a separate running venture. What type of agreement to do?

Snehal's answer | Answered on October 06, 2015

There are various ways to parse this out so that it is beneficial to you and yet is fair to all parties. As you may understand, it is difficult to...

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I have an LLC with several DBAs. Do I need to list the LLC on my DBAs' website? If so, where does it go on website(s)?

Snehal's answer | Answered on October 06, 2015

It is a good idea to list your LLC in the terms of use and privacy policy as well as on the copyright notice (typically in the footer). You may...

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Can a Non US Resident Invest in Shares?

Snehal's answer | Answered on October 06, 2015

Non-residents are allowed to buy shares in privately held startups. However, it involves securities and also foreign investment into the US. ...

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What is the legal way of saying someone is involved with a project before they are actually hired?

Snehal's answer | Answered on October 05, 2015

You could have everyone sign a founders agreement that memorializes the business understanding. If there is a lot of activity, you should even...

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Signed a contract with Hero program-work on our house. 3 day cancel period has passed, husband wants to cancel. Can we??.

Snehal's answer | Answered on October 04, 2015

Whether or not you could cancel without penalties will depend on the contract wording. Whether or not Hero will take you to court to recover...

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How to add and remove non voting officer or shareholder?

Snehal's answer | Answered on October 04, 2015

It is extremely uncommon and certainly not advisable to add officers or shareholders for a short time. Shareholders are added when they purchase...

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Protecting assets

Snehal's answer | Answered on October 04, 2015

Community property rights in CA apply to married individuals. For protection of business assets, you should consult a business attorney.

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Can a C - Corp be converted into a S - Corp company?

Snehal's answer | Answered on October 04, 2015

You may convert a C corp into an S corp, but whether or not it is good strategy should be determined in consultation with a business attorney. You...

Snehal B Patil's Answers (242)

Should my newly-incorporated Delaware company reimburse the costs spent during pre-incorporation costs to me?

When hiring independent contractors, does NDA and independent contractor agreement suffice and safely guard company's IP rights?

A company is asking me to turn their in-house proof of concept into a separate running venture. What type of agreement to do?

I have an LLC with several DBAs. Do I need to list the LLC on my DBAs' website? If so, where does it go on website(s)?

Can a Non US Resident Invest in Shares?

What is the legal way of saying someone is involved with a project before they are actually hired?

Signed a contract with Hero program-work on our house. 3 day cancel period has passed, husband wants to cancel. Can we??.

How to add and remove non voting officer or shareholder?

Protecting assets

Can a C - Corp be converted into a S - Corp company?