what happens to l1b when h1b approved

Hello, currently I am holding l1-b visa with my current employer. I got my l1b visa on 2-Feb-2014 but I didn’t traveled to US on the same. But another employer going to file H1-B petition for me. Can some please answer the below questions?

  1. If I travel to US on my L1B VISA and my H1B petition will approve in oct, what happens to my l1b visa?

  2. Will my L1B Visa be cancelled once my H1B visa is approved?

  1. U will be on L1, unless L1 to H1 COS approved or H1 stamped

  2. If U go for stamping out of US, there are chances of cancelling L1… if COS is approved, Ur L1 is valid, though U will be on H1…