what happens if approved H1b after COS not used?

[vipul4group]

Hi,

My H1b petition - With COS (from L1) is in USCIS for processing.

Consider that it is approved by 07/30/2012.

Now my questions :-

1) Can I look for other companise who can transfer my H1 and I can start working for them directly from Oct-1?

2) If I have to go back to India on Sep-30-2012. How it will work?

Is my H1b visa valid? Can I come back on H1b in future using this approved petition?

Thanks for all your help!

-Vipul