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
Types of Business Contracts
A contract is a legally enforceable agreement between at least two people or entities entered into for an exchange of goods or services. Contracts are enforceable by relevant law. Many different types of contracts exist; they vary by industry and commensurate with the type of goods supplied or services performed. There are several broad categories of contracts that might be entered into in your business dealings. Read More
Outsourced General Counsel, Who Needs One?
If you own or run a business, you should seriously consider working with an outsourced general counsel regardless of your company's size. Attorneys who provide these outsourced legal services generally work with businesses that range in size from one person start-ups to entities that have a few hundred employees for fees that are affordable. These outside legal counsel typically work with smaller businesses Read More
Elements of a Business Plan
Business plans can flow easily from your pen ( or computer) or they can be a process that takes many hours. Whatever amount of time it takes to draft your business plan, think of it as time well spent because you will appreciate that plan as you move forward in your business. A good business plan will include each of the following elements: Executive Summary The executive summary section of your business plan Read More
Buy-Sell Agreement – Or – What Can Happen to Your Small Business When One Of Your Partners Leaves?
Starting a small business of your own can be a truly exhilarating experience. In the excitement of watching your dreams come to light right before your eyes, you may very well overlook one of the most important contracts you need to have in hand when you start your small business (if you have one or more partners) – the buy-sell agreement between co-owners. Simply put, every closely held company, whether a Read More
So You Want To Form a Limited Liability Company…
When you decide to start a business, one of the first decisions you’ll make is how to actually structure the business. Will you be a sole proprietor? Will you form a partnership? A corporation? Or will you opt for the popular Limited Liability Company (“LLC”) formation? A Limited Liability Company or “LLC” is a business structure allowed by state statute. One reason for their popularity is the feature that Read More
What Does an Outsourced General Counsel Do?
When you work with an outsourced general counsel they will take on the legal piece of your business, steer your company into compliance, and help you mitigate your legal risk. This lawyer should work with you rather than for you, be your trusted legal advisor. Generally, your outsourced general counsel will form your company using a business structure that benefits how you work, protects your assets, and considers Read More
Do You Have a Business Plan for Your Business?
Too many people that I have spoken with do not have a business plan. Why? Well, they are human and they do not want to box themselves in to one thought or idea. I understand their hesitation, I really do. I thought the same thing when I started my business, but what I learned over time is that a business plan should be a fluid document that is meant to be referred to often and either followed or changed. We all Read More
