Applying for Employement based Green Card while on L1B VISA

[ardentaj]

I am working in an US company on L1B blanket VISA and my company has proposed/suggested that they will be starting Green card processing for me.

So I would like to know whether it is possible to apply for green card while I am working on L1B VISA which is a non-immigrant VISA.

What could be the duration that takes for completing whole green card process.Also I have a bachelor degree and not master's,so will this have any impact on processing time?

Since my company had blanket approval will there be any preferences that will be given for employment green card?

Approximately What might be the total cost company might have to incur for processing green card.

Finally What exactly the steps involved in process to apply for green card from L1B VISA.

Thanks in Advance!

[JoeF]

The L1, just like the H1, allows immigration intent, so there is no problem.

The company has to pay for the Labor Certification, including lawyer costs for it, and can not get reimbursed for that in any way or form.