If you are a member or manager of an LLC you should know that California has adopted the California Revised Uniform Limited Liability Company Act (“RULLCA”, full text here leginfo.ca.gov) which replaces current LLC law. RULLCA will take effect on January 1 and applies to all existing California LLCs and foreign LLCs registered with the Secretary of State. RULLCA should bring California LLC law more in line with the Read More
Articles of Organization: What Are They and Why Do You Need Them?
Articles of Organization are an integral part of your limited liability company or LLC. Actually, the articles of organization is the document, usually a form, that gets filed with the Secretary of State and officially forms your LLC. It is similar to the articles of incorporation, but that document forms a corporation where the articles of organization form an LLC. What goes into your articles of organization? Read More
Legal Forms: A Good Idea for Small Business Use?
I am running across more and more small business owners who have declared to me that practicing law is a matter of completing legal forms. Well, sort of. What these small business owners are missing is multi-fold: 1) There are plenty of legal forms on the internet and elsewhere, but part of the issue is knowing which legal forms to complete. 2) The form you may think you need may not be the correct form at Read More
If You Are Lacking the Proper Business Entity You May Be At Risk
Why operate your small business under the proper business entity? In short, it depends. It depends on your goals and those of your small business, but don't worry, when you work with the right business lawyer, all that will be fleshed out with you. You should note that the best entity for you and your company may be different than the entity recommended to one of your competitors or someone else in your line of 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 Business Entity Should I Create?
In short, it depends. The business entity that is best suited for your neighbor and her organization is not necessarily the best business entity for you and your company. There are many discussions that must take place before selecting the best entity structure. In California, there exist 5 basic types of business entities. They are: Sole Proprietorship - This is probably the simplest of the business structures Read More
