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My 2017 H1B petition is approved with a validity of one year. It is valid until Oct 2017. But my H1B sponsor has stopped hiring and so I did't go for stamping yet.

I have a L1B and current working in US.

Can I use the approved H1B petition to go 'cap exempt' and get a new H1B from a different employer.?

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No, and a qualified yes.

There is no such thing as transfer of an H-1B, although some do refer to it as such. Nothing is transferred, not by one employer to another, and one doesn’t even have to know about the other. What moves from one to the other is the individual with the H1-B authorization.

In actuality, a new H1-B petition has to be filed the new employer, and it may be without the restriction of the cap. And, as with your previous filing, you would need to re-submit your documentation, as appropriate.

As you are already in the US on a non-immigrant visa as an employee of an international company with offices in both the US and abroad, you may want to seek the guidance of an immigration attorney in advance of a new petition.

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