185 karma · joined July 7, 2008
Some companies might return money to investors before shutting down.
On the "how to hire" me comment, I've struggled with whether to put more info out there as the original point of the site was so that I could understand what blogging was about (and providing a public service by demystifying things for entrepreneurs). While I have been cold-contacted by a couple of entrepreneurs who have gone on to raise venture financing, I also end up getting contacted by a lot of people who will likely not be successful. I've generally taken the attitude that you have to kiss a lot of frogs in order to find a prince, but some people who have cold-contacted might know that I constantly joke about having to weed out potential axe-murderers. I'll probably add an FAQ in the near future to address how to engage attorneys and how much things cost.
Among other things, consider the following:
1. If this is the type of project that is intended to be VC-funded in the future, you should start with a corporation, not an LLC. (Keep in mind that an S corp can't have non-U.S. residents.)
2. If the LLC is a flow through entity, the UK person may have income "effectively connected to a U.S. trade or business," which may subject them to U.S. income tax at the same graduated rates that U.S. persons pay.