A vendor contract is simply a contract between you and one of your vendors. It is always a good idea to have all contracts in writing, for your protection, including these agreements. What is a vendor? First, it is good to understand what a vendor is: A person or company that sells goods or services to your company. This could be a supply of raw materials you use in your business or your coffee supplier. Why Read More
General Partnership Agreement Terms
A general partnership is a flexible form of business entity, however, as discussed in my blog post about general partnerships, it does not afford much protection from liabilities. In order to make the best of your general partnership, if that's the business entity that you are forming, you should have a written general partnership agreement. This agreement should memorialize, in detail, various terms of your Read More
Small Business Lawyer – What should You Look For?
Are you looking for a lawyer to support your small business? Many small business owners that I know have asked me how to do exactly that, find a competent small business lawyer that they can trust with their business. Hiring a lawyer may be more like looking for a confident than you might believe at first blush. When looking for the right small business lawyer for you, you should consider asking the following Read More
Is an S-Corporation Right for My California Business?
An S-Corporation is a form of corporation that operates with many more restrictions than a traditional C-Corporation. Like a Corporation, a California S-Corporation generally provides liability protection to its shareholders, however, to determine the shareholder liability for debts of the business you should look to the underlying entity, which can be a Limited Liability Company or a Partnership, for Read More
Your Independent Contractor Agreement Shouldn’t Be Virtual Even When Your Employees Are
You need to cut costs. Sure, who doesn’t these days? Layoffs and reduced staffing seem to be the order of the day. But you still need to keep your customers happy and that means you can’t afford to cut back on services. Like so many other small businesses, you’ve turned to the internet to find Independent Contractors to pick up the slack without inflating your personnel costs. The “no frills” concept of hiring Read More
Is a Corporation (or C-Corporation) Right for My California Business?
When you think of a corporation you undoubtedly think of a company like Google or Apple. These are both fine examples of corporations but you don't have to be the size and stature of one of these corporations that are household names in order to be a prime candidate to form a corporation. Corporations can be C-Corporations, like Google is and is what we usually think of when we think of corporations, or can be Read More
General Partnership – Is This the Business For Me?
A general partnership is created automatically, and possibly without intent, when two or more persons engage in a business for profit. A general partnership can be quite flexible and simple in its organization and operation and it acts like a sole proprietorship in that it does not offer any protections from liabilities. Of course, there are different kinds of partnerships, to include, limited partnerships and Read More
Why Might I Need a California Limited Liability Partnership or LLP?
A California Limited Liability Partnership (LLP) is a form of partnership that, in California, can only be used by certain licensed professionals, specifically doctors, lawyers and architects. Registration Before registering a Limited Liability Partnership, with the California Secretary of State, you should be sure that no other Limited Liability Partnerships by the same name exist in California. After you have Read More
A Bill of Sale – What Is It and Do I Need One?
A bill of sale is a writing that documents the transfer of title of property from the seller to the buyer. A bill of sale legally documents a transaction made by a person or entity who sells something to someone or some entity. This document identifies the terms of the sale to include the specific date of the sale, where the goods reside, and the amount of money or value of property to be exchanged from the person Read More
How to Form a Limited Partnership in California
A limited partnership in California is a bit more complicated than a general partnership. A California limited partnership is a partnership owned by two distinct tiers of partners: the general partners manage the company and are personally liable for its debts, just as in a general partnership; the limited partners make capital contributions and share in the profits but normally do not participate in the day-to-day Read More
