Legal Question in Business Law in California

I believe that if your new corporation is hiring you as a W-2 or a 1099 worker, then this will affect your ability to claim unemployment insurance benefits. However, if you are still working as someone else's W-2 employee you may be entitled to benefits. Generally, sole proprietors (or the self-employed) are not entiteld to benefits. I strongly recommend contacting the EDD to get a more definitive answer.

http://www.edd.ca.gov/uirep/uiloc.htm

I agree with the previous answer, but would emphasize that neither forming a corporation nor investing in a corporation constitute employment as such. There is going to be some point at which being (for example) the president of a company you own will become employment, but as a practical matter that will not happen until the corporation starts compensating you, rather than you putting money into the corporation to capitalize it. Ask the EDD.