Providing consulting service to another company while holding H1B

[osirpt]

I am an employee of a university with H1B status. I'm also one of the three partners of a high-risk startup LLC. I don't have to be employed by my compnay but I have to constantly give advice to the company because I'm the inventer of the key technique. I'm wondering whether and in what circumstance am I allowed to serve as a consultant to my company? Your suggestions are highly appreciated.

[inadmissible]

You are generally not allowed to work for anyone other than your H sponsor. That includes managing another business, or being self-employed, whether or not you draw a salary or receive cash compensation

Providing expertise or services in exchange for a passive, non-managing interest is a gray area. Tread carefully: don't serve as a managing member, don't treat it as as active participation for Net Operating Loss rules, don't ever hold yourself out as an employee