California business owners are well aware of the many legal protections enjoyed by consumers in the Golden State. A recent example of these protections is the California Consumer Privacy Act (CCPA). This act gives California consumers the right to demand details on how their personally identifiable information is collected and shared by companies. Furthermore, it allows consumers to sue non-compliant Read More
What is Due Diligence in a Business Sale?
If you’ve ever sold or purchased a house, you know that agreeing to an offer is just the first step in a long process meant to finalize the deal. You want to verify the information provided in the listing and make sure that everything is done correctly so the sale can proceed smoothly. The same principle applies to business mergers and acquisitions. As complicated as a home purchase is, though, business Read More
The Importance of Term Sheets and What Should Be Included
Entrepreneurs whose startups have gotten over the “hump,” so to speak, are well-acquainted with term sheets. Investors—private equity partners and venture capitalists, in equal measure—typically insist on term sheets before finalizing any deals. Many business professionals consider term sheets and LOIs (letters of intent) to be synonymous with each other. Both are general, non-binding agreements that outline the Read More
Valuation Methods for Your Business
Some small business owners hardly ever need to have their companies assessed by a professional valuator. Others, like those in emerging or high-growth industries, might regularly engage with business professionals to determine the value of their enterprise. Situations that call for a business valuation include: Selling a business;Buying out a fellow owner’s interests in the company;Taking on significant Read More
Four Insurance Policies Your California Business Needs
The types of commercial insurance policies available to California business owners are almost as numerous as the different kinds of businesses in the state. For example, the insurance policies an HVAC company needs are incredibly different than the ones needed by a CPA. Only two insurance policies are required for all businesses in California: workers’ compensation and commercial auto insurance. Workers’ Read More
Buying an Existing Business vs. Starting Your Own
While most entrepreneurs have the dream of starting up a company from scratch, it’s worthwhile to ponder whether purchasing an existing business might be your better option. Each situation (and entrepreneur) is unique, but here are some things to consider as you weigh this decision. When Does it Make Sense to Buy an Existing Company? You should strongly consider purchasing a business if you’re worried about 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
Five Tips for Picking Your Business Name
When starting a business you will have a lot of important decisions that need to be made. One of the most important is picking out a business name. This name will remain in place long into the future and will have an impact on your marketing strategy, branding, and much more. With this in mind, you really need to think through your options to ensure you make the right choice. The following tips will help you to find Read More
Getting Started on the Right Foot: Why You Need to Create a Business Plan
Many new business owners overlook creating a business plan. It is easy to do because these plans are sometimes difficult and time-consuming to develop. They can be useful, however, if you are looking for financing or investors, and they serve several other important functions as well. What Is a Business Plan? A business plan establishes the roadmap for your company. It describes what your business will Read More
Partnership vs. Joint Venture: What’s the Difference?
Partnerships and joint ventures are commonly confused because on paper they may sound somewhat similar, but in reality they are very different. A joint venture is much more limited than a partnership, and the legal implications are not the same either. What Is a Partnership? A partnership involves two or more people who are co-owners of a business for profit. Usually, these individuals will share both the Read More
