Hi-I am working for a US based MNC on L1B in California. My Visa and L1 B blanket petition are valid from November 10, 2008 to October 27, 2011. I came to US on November 22, 2008 and went back to India for a 3 weeks vacation in december 2009. I re-entered US on January 11, 2010 and I was given a new I-94 with validity till January 10, 2013. Now my question is, can I initiate my renewal or new L1B or L1A next year end before my I-94 expiry and continue to work in US until then even though my current petition is expiring? Is this legal and are there any risks of rejection at that time?My company is suggesting this but I am worried. Also, I dont have plans of going out of US until 2-3 months prior to my I-94 expiry in Jan 2013.My company suggests doing a new petition that time. Please advise.