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In 2010, a friend of mine founded a company, a tech startup

In 2010, a friend of mine founded a company, a tech startuphe asked me if I would like to join his venture, which I did.he ran short of money, and asked if I would like to invest. First he offered me a "debt" share but I agreed with him that I would put money in only for and equity stake.I ended up giving him several payments totalling precisely $50,000. But we never agreed on an equity percentage and never signed an agreement, so we simply treated this as a personal loan.in 2011, he folded the company without informing me, and refused then to speak about repayment of the 50KI tried for a few months to negotiate with this fellow...he then moved to China and is now in Sweden.I am going to reach out to him and see if he wants to negotiate on this. But what are my options for recovery in the courts? Any advice?Thank you!

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Richard - Bizlaw

Juris Doctor

10,860 satisfied customers
I'm looking into the possibility of using the MLM structure

I'm looking into the possibility of using the MLM structure to market a business that I plan on starting. I plan on offering a stock market newsletter along with stock/option trade recommendations as a package for $100 month.If I wanted to others to promote my business using the MLM structure as long as the structure isn't in place merely for the introduction of more participants into the marketing program I am solid? In essence as long as they get my services of stock alerts and newsletters my Business wouldn't be considered a Pyramid scheme and a legitimate MLM company? If not what what I need to do to be considered a legitimate MLM company?

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Richard - Bizlaw

Juris Doctor

10,860 satisfied customers
We spoke earlier about my currently non-profit website which

Hello, we spoke earlier about my currently non-profit website which I want to get liability protection on. You suggested keeping the finances separate. I think I found one way to do it, without opening a bank account in the first year. Could you please give your opinion on the folllowing, in the sense if I take the following steps, will I have my separate entity veil fort the LLC1. I set up a (Wyoming) LLC in Feb 20172. In my operating agreement I mention "first year's operation will be funded by its single member advancing website costs as his investment"3. In 2017, I spend $100 on the web-site4. In 2018 when I file my Personal taxes, I note in Schedule C that my LLC had $100 invested and $100 expenses combining to zerothank you

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Phillips Esq.

Attorney

Juris Doctor

20,698 satisfied customers
Thanks! just to recapitulate 1. I set up a (Wyoming) LLC in

thanks Richard!just to recapitulate1. I set up a (Wyoming) LLC in Feb 20172. In my operating agreement I mention "first year's operation will be funded by its single member advancing website costs as his investment"3. I do nothing in 2017, except somewhere in a notebook recording my expenses on the website4. In 2018 when I file my Personal taxes, I note the website expenses in Schedule CDoes the above sound correct ?You mention "You would account for your expenditures on behalf of your website as your investment and the expenditures as expenses of the LLC", I am confused about the"and the expenditures as expenses of the LLC" part. Where would I mention those, in a separate business tax form ?

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Richard - Bizlaw

Juris Doctor

10,860 satisfied customers
I am looking to draw up a simple good faith letter for an

I am looking to draw up a simple good faith letter for an investor in our film company. He would be investing 50,000 in our company in March. I realize this letter would not be legally binding, but it would help us in attracting other investors and talent. Can you help me see an example of such a letter or help me draw one up?

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Richard - Bizlaw

Juris Doctor

10,860 satisfied customers
I am not a MD or NP however I am very interested in

Hello, I am not a MD or NP however I am very interested in investing into a medical practice. Is it possible for me to invest in a practice if I were to hire a MD on as a Medical Director?JA: Has anything been officially filed? If so, what?Customer: No, just in the exploration phase, and I would like to start in Illinois.JA: Anything else you want the lawyer to know before I connect you?Customer: no

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Law Educator, Esq.

Attorney At Law

Doctoral Degree

114,224 satisfied customers
My question is this.Can someone sue another person who

Hello.My question is this.Can someone sue another person who referred them to an online investment opportunity? I am in Japan and one person I was friendly with has had their lawyer send me a letter where I have 14 days to agree to pay the amount he invested?Thankyou for reading this.

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Ely

Counselor at Law

Juris Doctor

67,996 satisfied customers
After 7 years in civil court, I finally won my case. My

Hello,After 7 years in civil court, I finally won my case.My question is about the fees owed to the lawyer who represented my case.here is the background info:I filed the case as pro se in 2010 and it was adjourned several times. Sometime mid 2013 I made an agreement with a fresh law graduate to do advertising work for her in return for her representing my case in court.long story short, in early 2015 the lawyer relocated to a different state and wanted to drop her name off the case after I had spent a considerable amount of money (around $4k) doing advertising for her. I refused.Mediation failed so we went for trial last week. A lawyer I've never met before showed up (I think she said she said she was a court lawyer, or court counsel, or something like that) and said she was appointed to represent me in the case.she was texting on her phone the whole time and complaining that she had other stuff to do, zipping back and forth into the court room while we waited for trial... up till our names were called to come in front of the judge, then she asks me (in front of the judge and the defendant) " just give me in two words, what is this case about?". I was flabbergasted.The trial took 2 days (non-consecutive), around 4 to 5 hours effectively in front of the judge...During trial, my clueless lawyer asked me to help her with points during cross-examination which irritated the judge who ordered me to remain quiet or face a hefty fine.Result : I won the case but got little of my money back ($7k out of $24k owed).the next day after the trial, the original lawyer (who moved out of state) texted me asking me to confirm my address and email address.I am a bit concerned that I might receive a bill from either lawyer.I have not signed a contract with either party. My deal with the first one was a trade in kind with no contracts signed and I had never met the 2nd lawyer before the trial.1- Does either party have any legal ground to bill me?2- am i obligated to pay? can that affect me or my credit in any way?3- Do I have a defense in this matter?4- If collecting money from the defendant fails, and don't have money to pay them what is the worse case scenario that can occur? can they sue me?please let me know. Thank you.

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RayAnswers

Lawyer

Doctoral Degree

40,218 satisfied customers
I just won a case today in civil court and I have some

I just won a case today in civil court and I have some questions on how to proceed.in summary, it is a case of a bad investment with unpaid services rendered, and unjust enrichment.I invested money and work (including graphic design, marketing, advertising etc) towards an event someone was doing. that person claimed to have a non-profit organization which turned out to be a lie so I registered the company name she was using to prove in court that the company never existed and the fraudulent intentions of that person.1- three people were named as defendants, (a woman, her husband and her company) only the woman showed up in court as pro se claiming she had power of attorney to represent her husband. the judge did not accept that, saying she only can represent herself. Moreover, he admonished my (seemingly rookie) lawyer for not asking for default judgment against the two others parties, but would not grant it either, ruling in my favor against the woman only. I got only 40% of the amount I was asking for. My question is, can I still ask for a default judgment against the other 2 parties even though the judge has ruled in the case?2- if so what are the steps to do so? (would appreciate an idea of the cost and whether this mandatorily requires an attorney or can be filed directly)3- Please give me an idea on what to expect now. how do i get my money? within how much time? will the woman have to pay me directly or to the court? knowing her, she'll do whatever not to pay, so how can i make sure to get my money back?4- to what extent can this info be used in public, like in a press release with the woman's photo and court ruling etc.?Thanking you in anticipation for answering my question.

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John

Attorney

Doctoral Degree

8,640 satisfied customers
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