SIMPLY LEGAL VIDEO SERIES
Hosted by: Attorney Gil Sánchez
SEGMENT:
Business Law
FREQUENTLY ASKED QUESTION:
Business Law Segment F.A.Q: “What is best, a handshake deal or signed contract?
SEGMENT:
Litigation
FREQUENTLY ASKED QUESTION:
I was sued in Nevada but the breach happened in Florida, how is that possible?
SEGMENT:
Injury Law
FREQUENTLY ASKED QUESTION:
I was in a car accident while on the job, what claims can I make?
VIDEO TRANSCRIPT ANSWER:
If you are involved in a car accident while on the job, you are entitled to make a workers compensation claim to receive medical treatment, payment of medical bills and loss wages. If the driver who caused the accident was at-fault, you can also make a bodily injury claim against them.
SEGMENT:
Business Law
FREQUENTLY ASKED QUESTION:
I am starting a new business, should I register an LLC or Corporation?
VIDEO TRANSCRIPT ANSWER:
Generally Speaking, an LLC the more common registration as it has less requirements or formalities that need to be followed in order to maintain the protection aginst your pesonal assets. In an LLCyou have members and managers. A corporation has many statutory formalities that need to be satisfied every year to maintain protection. A corporation has board of directors, officers and shareholders. Before you decide what entity you want to register-Contact Me.
SEGMENT:
Litigation
FREQUENTLY ASKED QUESTION:
How much will it cost me to file a lawsuit?
VIDEO TRANSCRIPT ANSWER:
A Litigation budget could range from $2500.00 to $100,000.00 or more, It depends on the type of case, If files in state or federal court and the complexity. Some attorneys may offer contingency, hourly or flat fee retainers. Ultimately the best decision you can make is to consult with an attorney (or two) so they can provide an estimate. I always provide litigation cost estimates with potential clients.
SEGMENT:
Litigation
FREQUENTLY ASKED QUESTION:
Should my business also hold title to the commercial property?
VIDEO TRANSCRIPT ANSWER:
Holding the title to a commercial property in a separate LLC from your business entity provides liability protection, ensuring that any legal claims against the property do not impact the business assets. It also helps in maintaining a clear distinction between personal and business assets, which is crucial for tax and legal purposes. Additionally, it can offer more flexibility in management and financing options. Lastly, it simplifies the process of transferring ownership or selling the property without affecting the primary business operations.
SEGMENT:
Business Segment
FREQUENTLY ASKED QUESTION:
How can I protect discussing my business idea?
SEGMENT:
Litigation
FREQUENTLY ASKED QUESTION:
If I win my lawsuit can the money I spent on attorney fees & costs be paid back by the losing party?
SEGMENT:
Business Segment
FREQUENTLY ASKED QUESTION:
Are you guaranteed a jury trial in a civil case?
VIDEO TRANSCRIPT ANSWER:
You will be surprised with my answer and it is that you are NOT AUTOMATICALLY GUARANTEED A JURY TRIAL IN A CIVIL CASE. Unlike a criminal case where the defendant is entitled to a jury trial, in a civil case it is different. When you file a lawsuit in civil court there are procedural barriers that could derail a case from going to a jury trial like a motion to dismiss or motion for summary judgment.
SEGMENT:
Business Segment
FREQUENTLY ASKED QUESTION:
I secured a business loan from a friend. What document should I sign?
VIDEO TRANSCRIPT ANSWER:
Before you shake hands and walk away, there’s one document you absolutely need— the Promissory Note. Think of this as your loan’s blueprint. It’s not just a piece of paper; it’s the legally binding agreement that outlines the loan amount, payment schedule, interest rate, and what happens if things go south. Without it, you’re flying blind in a financial storm.
Now, let’s get into the nitty-gritty. This document also includes an amortization table, which breaks down how much of each payment goes toward interest and principal over time. Plus, the note will spell out the default terms, so you’ll know exactly what happens if payments are missed. The beauty of the Promissory Note is that it leaves no room for confusion—everyone’s on the same page, and that page can save your business from future headaches.
SEGMENT:
Law Segment
FREQUENTLY ASKED QUESTION:
What are the different ways to become a business owner?
VIDEO TRANSCRIPT ANSWER:
When it comes to owning a business, there are several paths you can take, each with its own advantages and challenges. One option is to buy an existing business, stepping into a company that’s already operational with established customers and revenue streams. Another approach is to generate an idea from scratch and build your business from the ground up, allowing you to shape every aspect to your vision, though it requires significant effort and resources.
You might also consider becoming a partner in an existing business, which lets you collaborate and leverage the strengths of others while still having a say in the business’s direction. Finally, franchising offers the chance to own a business with a proven model, reducing some of the risks associated with starting fresh. Each of these options has its merits, depending on your goals, experience, and resources.
If you want more information on how to start or own a business, contact me to schedule a 3 hr intensive 1:1 Master session.