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
New Emergency Temporary Standards for California Employers Effective June 17, 2021
The Emergency Temporary Standards (ETS) placed on California employers were recently revised. After a brief period for public comments, the state adopted the new ETS on June 17. While the new ETS relaxed many rules pertaining to mask usage, it also maintained a number of requirements for many California employers. Some of the requirements from the original ETS that still apply going forward 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
How to Convert an LLC to a Corporation in California
Setting up an LLC is much easier than establishing a corporation. It is often a cheaper option that requires less effort to maintain over time as well. As your company grows, however, it may outgrow the LLC model, which is too limited for some businesses, especially as they expand. California uses a relatively new law that allows for a more streamlined procedure to convert an LLC to a corporation. In fact, it only Read More
Piercing the Veil: When Business and Personal Liabilities Intertwine
When you create a corporation, limited liability company, or another business structure, you are developing a separate legal entity. One of the main benefits of doing so is that it shields your personal assets from any liabilities incurred by the business. If you do not maintain this separate legal entity properly, however, you can lose that benefit. This process is often referred to as “piercing the corporate Read More
A Brief Q&A on Crowdfunding
In recent years, crowdfunding has been all over the place. If you’ve managed to avoid any knowledge of crowdfunding, the short story is that it’s a new way for people to raise money. There are several different platforms these days, like Kickstarter and Indiegogo, and each has a different process you must navigate to raise funds. For the purpose of this blog, we’ll focus on crowdfunding in general to provide a broad Read More
Is Your California Business Compliant?: An Overview of Business Entity Compliance Requirements
When you decide to incorporate or form an LLC, you are committing to follow certain compliance requirements that are set out by California law. Failing to adhere to these legal demands can completely undermine your business structure. Therefore, it is important to know and understand these obligations so you can fulfill these duties. Types of Compliance Requirements Generally speaking, there are two types of Read More
The Difference Between a Corporation and LLC in California
Business structures have important differences that can be both advantages and disadvantages, depending on your company’s unique needs. Not all structures are created equal. Understanding the differences between two of the most widely used structures—corporations and LLCs—can help you decide which option will work best for you. Business Structure Basics When deciding which business structure is right for your Read More
Winding Up a California LLC
Each limited liability company (LLC) in California is registered with the state. Dissolving the LLC also requires state involvement. The first step in ending an LLC in California is actually dissolving the LLC. Next, the LLC will “wind up.” During this period, the LLC only exists to deal with certain financial and practical matters that the company must address before closing its doors. Members of the LLC can Read More
