Business Law

What’s a business attorney?

Business attorneys represent business owners in a comprehensive range of commercial law services. They can assist clients with the selection, formation, and organization of business entities; succession planning; and on-going legal compliance matters, including annual state reporting requirements.

Why hire a business attorney?

Many businesses won’t actually hire an attorney until such a need arises. However, if you’re a business owner or start-up entrepreneur who prefers avoiding unforeseen troubles, then waiting too long can be a costly mistake.

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What’s an “outsourced business law attorney”?

Many business owners have come to realize that, instead of hiring a full-time attorney to represent their company, outsourcing their legal needs is a cost-effective way to address difficult issues and to enhance their business’ return on investment. Even if hiring a full time general counsel for your business is not in your company’s budget yet, by outsourcing your legal matters to us, you will get the benefit of having a full-time attorney on your staff without the high cost.

What are some benefits of legal outsourcing?

By outsourcing your legal needs, you’ll gain a legal expert who’ll also understand your specific business situation. We’ll give you the legal perspective you need to properly operate your business in a timely and cost-effective manner. We may identify potentially significant issues and proactively address them before they get out of hand.

How do you start a business?

If you’re planning to start a business, one of the first important issues you’ll face is deciding what type of business entity you should form. Unfortunately, too many people rush into forming a business entity without adequately and thoughtfully determining whether the entity they choose is actually best suited for them and/or their business.

There are many different types of business entities to choose from, including sole proprietorships; general partnerships; limited partnerships; corporations (including C and S Corporations); and LLCs. There are several issues that should be analyzed before you formally elect the business entity. You should always speak to an attorney and a CPA regarding the different tax obligations each entity requires, the different types of liability you may be exposed to, and the on-going legal requirements of each entity.

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What should be done after you’ve chosen the business entity?

After you’ve elected the business entity that is best suited for you, you may then need to prepare and file documentation with local, state, and federal government agencies. You may also need to prepare bylaws or operating agreements. These documents provide a framework for your business as well as the rules that govern your company’s internal management pertaining to shareholders, directors, and officers.

Too many small business owners either skip this step entirely or download poorly prepared documentation online. These documents are extremely important and should be specifically tailored to you and your business. It is also vital that you actually diligently follow through with the terms laid out in your operating agreement or bylaws to provide maximum protection.

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What other actions are needed when starting a business?

Depending on the type of entity you choose, you may need to appoint initial corporate directors, hold a board of directors meeting, issue stock, and much more.

What happens if you don’t properly maintain your business in accordance with California law?

Depending on the type of entity you choose, you may have continued, on-going compliance obligations. If you ignore these business formalities, you may face many legal consequences including some of the following:

If your business is a corporation or an LLC, you may inadvertently expose yourself and your family to personal liability;
Your business may be subject to additional fees and penalties if the filings you submit to the California Secretary of State are late or aren’t submitted;
Your company may lose its business name;
There may be tax penalties;
You and your business may be subject to lawsuits and judgments if you fail to appropriately document your business activities.

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What are examples of on-going business compliance obligations?

Depending on the entity you chose, some on-going compliance obligations include performing annual meetings; maintaining corporate minutes of your meetings; paying annual fees; and filing annual updates with local and state governments. Depending on the activities of the business and the industry in which it operates, there may be additional compliance requirements.

What sorts of legal issues could arise while operating a business?

There are many potential issues that can arise during the operation of a business including commercial landlord/tenant matters, disagreements with vendors, hiring and termination of employees, and much more.

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