You may have several reasons to close down your business—from financial problems to retirement. When you are ready to close your business for good, it is not as simple as just hanging up your hat and walking out. Instead, you have certain legal obligations that you must meet for your corporation to be considered legally dissolved. In California, C-corporations have certain annual reporting requirements and fees. Read More
Proactive Partnerships: 5 Potential Scenarios You Should Address in Your Partnership Agreement
Even relatively minor disagreements in a partnership can cause serious disruptions in business and can even force the partners to dissolve their partnership. Planning ahead can prevent many partnership disputes before they happen. Any time that more than one person can make decisions that significantly affect the business, a partnership agreement should be in effect. Although written partnership agreements are not Read More
Cashing In: What to Do Once You’ve Decided to Sell Your Business
Anyone who owns a business (or even a partial share in one) will reach a point when it’s time to get out. Sometimes that means passing it along to the next generation, while other times it just means selling out to the highest bidder as fast as you can. But, whatever your reasons are, you’ll want to understand your rights and responsibilities, so you can make informed decisions about what to do. And of course you’ll Read More
Benefits and Challenges of Operating a Business in California
If you are thinking about opening a new business, or moving an existing business, to the state of California, it is important to really understand the different benefits and challenges that exist. As with all business decisions, the more information you have available, the better the decision you will be able to make. Read through the following benefits and challenges of operating a business in Read More
5 Things Every Business Owner Should Do BEFORE Hiring Their First Employee
Congratulations! Your small business is growing and you’ve made the decision that you are going to begin hiring employees to help your company continue to expand and improve. This is an exciting prospect for any small business owner, and far too many get so caught up in that excitement that they fail to properly understand and prepare themselves for the legal challenges inherent in employment. Below we have Read More
Three Ways to Protect Your Business from the Threat of a Lawsuit
When you own a business, you obviously want to do whatever it takes to keep operations running smoothly and avoid expensive lawsuits that drain both money and time. This article examines three ways that you can protect your business from litigation. Be Honest and Professional at All Times Owners and employees alike should refrain from saying or doing anything that could be considered unethical. This Read More
Four Reasons Your Business MUST Have an Employee Handbook
If you’re running a business, an employee handbook is a must-have. Although not a legal requirement, a handbook informs your staff of all workplace rules so there is no room for ambiguity or guesswork. They will know what is expected of them and what they can expect from you in return. Should a disgruntled worker try to take you to court later, a handbook can provide your company with legal protection. Below is a Read More
Starting a Business? Here Are Five Tips for Success
Starting your own business can be exhilarating. You have the opportunity to control your own destiny, determine who you work with, and have the chance to translate something you enjoy doing into financial rewards – all on your terms. But before starting a business in California, you need to have a solid business plan and consider the associated legal issues, which include: Selecting the right business Read More
California Business Strategy: Advantages and Disadvantages of the “C” Corporation
It’s possible to operate a business without creating a legal entity for it - and many California business owners do exactly that. But if your business is anything more than a hobby, it’s wise to incorporate. There are many options when it comes to your legal structure, and in this blog entry we look at the advantages and disadvantages of a corporate structure. Personal asset security: When you own a corporation, Read More
Five Ways to Boost The Value of Your Business If You’re Planning to Sell (Or Even If You’re Not)
When you sell your business, you probably know that you need to get a certain price in order to realize your exit goals and finance future ones. But when the time comes to place the business on the market, many business owners discover that its value is less than they had hoped for. To avoid this type of disappointment, follow these five steps to increase the value of your business to today’s buyers before you list Read More
