A blog about making your business leaner, faster and smarter

The H1B Visa Crunch

Forget the Series A Crunch . . . the H1B Visa crunch has serious short-term and long-term impacts on Silicon Valley and the U.S. in general. Amidst the coverage of the WhatsApp acquisition and SXSW, another story has probably been appearing in your social media feeds these past few weeks that probably has you asking “what’s up with all the immigration talk?” or “what the hell is an H1B visa?” From Silicon Valley and Silicon Alley, tech companies are revving up for the H1B application opening on April 1, 2014, where, over a week period, a limited number of H1Bs will be available for companies to apply for. This insanely ridiculous race highlights a major flaw in our current immigration policy and creates a substantial disadvantage for younger technology companies. Prohibitive visa policies in high growth industries have dramatic impact on today’s fragile economic recovery and future opportunities to drive …

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What are the legal costs of being acquired?

This posts is part of an ongoing series on Quora. Majority of this data is around Silicon Valley and New York technology companies, but again, as we get more data, we will start to build out more use cases. Larger M&A can be VERY expensive. Cost estimates below are based on prices from UpCounsel lawyers and will not necessarily be the case for every acquisition. Asset Purchases $10k – $25k – Purchasing technology and/or patents from companies with less than 20 employees where target is winding down. In an asset purchase, the buyer purchases only those tangible and intangible assets—and assumes only those liabilities—that are specifically identified in the purchase agreement. We are seeing this more and more with larger companies wishing to purchase the technology or patents of a small company that is winding down. Merger (purchase entire business) $30k – $60k – In a merger, two companies combine to form one …

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What is the costs for an employer to sponsor an H1B Visa?

An H1B Visa (or H1B transfer) will cost you around $5000 (including government fees). Lawyers fees should costs $2000 to $3000, while filing fees are around $3000. An employer must have enough money in the bank necessary to pay the H1B employee’s salary for a reasonable period of time. The analysis is on a case by case basis. So if you have enough money in the bank to support the employees salary AND support the business (i.e. you won’t go bust next month) then these are typically sufficient, but there will be a number of items you need to assemble to show the viability of your business. If you need help with H1B visas (or other types of visas) you should come check us out at UpCounsel. See the full post on the costs and process of H1B Visas.

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What are the minimum requirements to file a part-time or full-time H1B visa?

Depending on the situation you can typically get H1Bs handles for $2500 – $3500 not including fees. You should expect to tack on another $3000 for government fees. Generally, the more legitimate you can make your company look, the more successful you will be at getting an H1B for a foreign employee. So if you have enough money in the bank to support the employees salary AND support the business (i.e. you won’t go bust next month) then these are typically sufficient, but there will be a number of items you need to assemble to show the viability of your business. If you have $1M in the bank, then you obviously have less worries. If you need help with H1B visas (or other types of visas) you should come check us out at UpCounsel. We have helped many many companies and startups with their immigration issues. See the full answer here on Quora.

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How to License a Patent

Licensing an invention is the easiest, most legally secure way, to commercialize a product and turn a profit. The idea goes like this: you come up with the idea, and patent that idea. Then someone else takes your invention, turns it into a product and manages the day-to-day work of manufacturing, marketing, and selling it. Essentially, licensing is the sale of intellectual property to a person or business who wants to produce it for  profit. In fact licensing may very well be the most lucrative way to make a living today. U.S. Patent Outlook In 2013, there were 347,142 patent applications published – largely to utilities. That’s over 26 thousand more patents than in 2012 – a jump of nearly 10%. Source: https://www.acclaimip.com/2013   Steps to License a Technology Patent What follows are the typical steps to licensing an invention: Identify target companies – companies typically only license inventions that …

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What Should Go in your Employer Bill of Rights?

What is a ‘bill of rights’ but a list of the most important things to the citizens it affects? The purpose of a bill of rights is to protect those rights against infringement by others. It is considered by many to be the most important document enacted by any country and these rights cannot be rescinded by any later act. Nurses have a bill of rights, as do domestic workers, law enforcement officers, and other groups, but what should go in an employer’s Bill of Rights? Why Should Human Resources Care about an Employer Bill of Rights? No matter who wins, employment lawsuits are very expensive. Even if the course is dismissed without trial costs, it will take $50,000 on average to defend; $100,000 if it goes into court. If the employer loses, those costs can double because the employer typically has to pay the victorious employer’s legal fees. Even …

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Top Requests from General Counsel to Law Firms

The role of the senior in-house lawyer has changed dramatically and now often involves acting as project manager, educator, record-keeper, and advisory to the Board. Their focus is increasingly on risk management, compliance and governance, as well as commercial considerations in a world increasingly focused on data security and data privacy. Pressures Facing General Counsel Now According to a survey entitled Global Agenda study Report: Issues & Priorities for Senior In-House Counsel Worldwide, conducted by the World Law Group in conjunction with LexisNexis® Martindale-Hubbell® (World Law Group, Autumn 2012), among the top pressures facing general counsel now are two competing priorities: An increasingly difficult regulatory environment with the resulting ethics and compliance challenges as well as data privacy and data security issues. The need for cost control and efficient general counsel operations. Source: http://webcasts.acc.com/handouts/9.18.13_EMEA_LQH_Slides3.pdf These competing pressures are driving what general counsel want and need from their internal and external lawyers …

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New Direct Invoicing feature launch

As UpCounsel grows and our community becomes stronger, so do our tools and offerings. I am excited to announce the launch of our new invoicing tool, which enables lawyers nationwide to send invoices to their clients and easily collect payment online through UpCounsel. Today we are making this free tool available to all Registered and Verified attorneys on UpCounsel. We’ve created an easy way to send invoices to all your clients as well as receive payments as soon as the next day! This is much faster than waiting for checks in the mail, using Paypal and much more. Since we see this tool as the fastest way to get paid as an attorney, we hope to see you adopt this as your primary method of billing for your clients moving forward. Let me show you how it works with a little walk through. This is just one of many exciting …

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What General Counsel Want and Need from Outside Counsel

The job description for general counsel is varied and changeable. A GC must not only interface with company employees and executives but also act as manager and liaison with outside legal services. It can often be a difficult situation to balance the legal needs of the company with overall internal issues like budget cutbacks and increased regulation. That is why general counsel are beginning to make more demands from their outside counsel, particularly in the areas of flexibility and innovation. Cost Effective Services One of the biggest concerns for general counsel would come as no surprise to even an average consumer of legal services: cost effectiveness. In the heyday of Wall Street and a booming economy it may have been easier to demand only the best legal services, which can come with a hefty price tag. Today, companies are generally exercise more control over budgets and not letting expenses spiral …

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What’s Zapping your Employee Productivity?

Employee productivity is a measure of both efficiency and effectiveness. Signs of a productive workplace include things like: Reduced payroll costs Increased profit margins Enthusiastic customers Essentially these features equate to getting more done in less time, staying on task and on budget, and making more money and all of that is supposed to lead to greater employee productivity. Most business owners and C-level management believe that employee productivity is a key business metric to watch. Current business wisdom indicates that happy employees are productive employees and business owners have spent a great deal of time and energy keeping employees loyal, engaged, and focused to keep them happy. They also spend a great deal of time working to establish workplaces, processes, and a culture that encourages employee productivity. While all that effort is supposed to promote greater employee productivity, some work habits and office policies are zapping employee productivity. A …

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