As everyone’s lives are upended due to the coronavirus pandemic, business as usual seems almost impossible. For example, what about that seemingly rock-solid business contract you signed last fall? Performing as specified may not be possible now. So, what are business owners and managers like you supposed to do? To provide a bit of guidance in these uncertain times, we have put together a list of items that may help. Read More
4 Types of Partnership Disputes
If you’re like the majority of business partners, you probably started your venture with an abundant amount of good feeling towards your partners and never imagined that one day you would be embroiled in a dispute with them. All too often, however, partnerships end in acrimony caused by disagreements over money or management of the business. Failed partnerships create financial problems for the business, but the Read More
AB-5 and What it Means for California Employers
With the passage of AB-5 last fall, California radically redefined the employment status of almost two million gig workers and other freelancers. Some industries managed to secure exemptions, while others are scrambling to adjust. For some business owners, this means hastily making the necessary arrangements to convert their contractors into regular employees. For many contractors, this means hunting for ways to stay Read More
Why You Should Register Your New Business as an LLC in California
There are trade-offs associated with every business structure out there, and a limited liability company (LLC) is no different. Many first-time business owners might prefer to form a sole proprietorship or limited partnership because they are easy to register and have simpler tax filing requirements. It is well worthwhile, however, to consider using the LLC structure for your California business, even if you are Read More
Overview of the Professional LLP in California
Many states allow for a variety of professional service providers to form what is known as a PLLC, or Professional Limited Liability Company, but this is not an option in California. Instead, licensed professionals may choose to form a Professional Limited Liability Partnership (PLLP) or a Professional Corporation (PC), depending on their type of business they conduct. What is a Professional LLP? A Read More
An Overview of Mezzanine Capital
Business owners have many options for funding different aspects of their operations. Each option comes with its own set of pros and cons, and mezzanine financing is no different. For some situations – such as growth opportunities that need spot financing – this type of capital can be an effective option. What Is Mezzanine Financing? For those familiar with architectural terminology, you might infer that Read More
Pros and Cons of Incorporating Your Business in Delaware
Did you know that more than 50 percent of all publicly traded and Fortune 500 companies are incorporated in Delaware? This is because Delaware has certain tax advantages and corporation-friendly laws that can make it appealing for businesses to incorporate there. Not all companies will realize the same benefits if they choose to incorporate in Delaware, however, and factors such as the size of the business affect Read More
Understanding the Uniform Commercial Code
If you have ever purchased a vehicle, bought or sold goods, or borrowed money, you have completed a transaction that is subject to your state’s adoption of the Uniform Commercial Code. To clear up a common misconception, the federal Uniform Commercial Code (UCC) is not a set of laws in and of itself. It is merely a legislative model, created by a non-profit entity called the Uniform Law Commission. All 50 states have Read More
Liquidating Your Business Assets
There are many reasons why people decide to shutter their businesses. For some, it is time to shift markets, move on to new opportunities, or retire. For others, it is a catastrophic loss or change in personal circumstances that makes this decision necessary. No matter the reason, chances are you will want to liquidate any assets you can in order to pay creditors and come away with some amount of money after closing Read More
Four Tips for Negotiating Contracts
Negotiating a good business contract can be a difficult balancing act between demanding too much and asking for too little. It’s tempting to insist on everything you want, but adopting a scorched-earth approach might cause the other party to abandon the negotiations altogether. Even if they do sign the deal, you might be creating unnecessary problems for yourself down the road because people who are deeply unhappy Read More
