Wow! That's scary, and I'm super impressed by your wife's approach. I have been the subject of 2 nuisance lawsuits. I won both. But I don't think I'd have your guts.
My Encounter With a Patent Troll
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Re: My Encounter With a Patent Troll
#22Wow! That's scary, and I'm super impressed by your wife's approach. I have been the subject of 2 nuisance lawsuits. I won both. But I don't think I'd have your guts.
It was / is scary! Luckily, I had a wife familiar with the court system. Plus, she's a rock star to boot. ;-)
Were the two lawsuits you faced patent related? Or something else?
Re: My Encounter With a Patent Troll
#23Earlier quoted context omitted.
IANAL so this really depends on the person's specific situation i.e. like what state is the business in, how many members there are, and so on imo if you want more protection, you need a C-Corp or a more than one member LLC... there are caveats to both routes and everyone should talk to a real lawyer about this or books from say NOLO
Can any lawyers, or those who have incorporated their own business as a C-Corp, provide a rough estimation of upfront and annual costs?
I have an S-Corp, and the typical upfront cost with my lawyer is $500, that includes one hour consultation and all setup fees. Legal paperwork is under $100 and one hour per year. Accounting comes out to $900/year, but that usually pays for itself in all the deductions that my accountant can find.
Re: My Encounter With a Patent Troll
#24"That’s why it’s crucial to be legally protected with some kind of corporate structure. For most small businesses, this means creating a limited liability company." Not all incorporations are made equal. For LLCs, I feel it depends on the state of incorporation as well as the number of members. I could be wrong, but an LLC that is either incorporated in states like CA or only has one member, can have its corporate ve…
You are wrong. Source: http://www.amazon.com/Examples-Explanations-Corporations-Pri...
If you don't want to read the book, talk to a lawyer. Expensive lawyers have the first hour often (usually) free. My less expensive lawyer offered "one-hour consultation plus all filing fees" for $500 deal. That would be money well spent.
Re: My Encounter With a Patent Troll
#25"That’s why it’s crucial to be legally protected with some kind of corporate structure. For most small businesses, this means creating a limited liability company." Not all incorporations are made equal. For LLCs, I feel it depends on the state of incorporation as well as the number of members. I could be wrong, but an LLC that is either incorporated in states like CA or only has one member, can have its corporate ve…
You are wrong. Source: http://www.amazon.com/Examples-Explanations-Corporations-Pri... If you don't want to read the book, talk to a lawyer. Expensive lawyers have the first hour often (usually) free. My less expensive lawyer offered "one-hour consultation plus all filing fees" for $500 deal. That would be money well spent.
Do you have the exact pages or passages proving that I'm wrong? I'm not saying that I'm not wrong, but I'm really curious to see the proof since I've been told time and again that it's relatively easy to pierce the corporate veil for LLCs in California.