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i797b and L1

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  • i797b and L1

    I have a i797b from a Previous company (But no Visa Stamping) . This happened 4 years back .
    Now my current Company want to send me to US urgently. They think that it may take at least 3 months to process an H1 visa(With my i797b).

    So they are thinking of going for a L1 Visa for me .

    So in this context I would like to know If I apply for L1 visa will my i797b still valid ?.
    Can I apply for H1 later sometime with L1 in hand ?

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