When you started out in business, you probably didn’t think much about eventually selling your company. However, statistics show that 80% of a small business owner’s net worth is tied up in their company. Therefore, preparing your small business for a profitable...
According to the U.S. Small Business Association, small businesses create almost two-thirds of all jobs in the U.S. each year, and half of all working Americans are either owners or employees of a small business. The SBA advises entrepreneurs to seek counsel while in...
Planning to transfer business ownership or liquidate your business when you are ready to retire or when you die is as important as the planning you did when you established your small business. Here are some tips on how to use estate planning strategies to transfer...
If you run a family business, or are considering starting one, there are four potentially lethal legal mistakes you should avoid, including: Mixing family and business finances. Many family businesses start with loans or seed money from various members, and as the...
One of our most popular articles (How to Voluntarily Withdraw or dissociate from a Limited Liability Company LLC) dealt with the process of voluntary member withdrawal or dissociation from a limited liability company (LLC) under the Beverly-Killea Limited Liability...
An article recently posted on the discussed ten employer mistakes that are most likely to get you sued; these include: Classifying all employees as exempt, whether or not they are. Allowing non-exempt employees to work during their lunch breaks. Classifying employees...
Every California limited liability company (LLC) and foreign LLCs registered in California must file a statement of information with the Secretary of State within 90 days of filing its original articles of organization or application for registration, and biennially...
As the end of year arrives, it is important that small business owners review the things that did and did not work during the previous twelve months and adjust their plans for the next year accordingly. One of the best ways to accomplish this is by holding annual...
California offers an easy way to voluntarily dissolve a corporation that hasn’t issued shares, has not conducted business, and has been in existence less than one year. A short form certificate of dissolution for inactive corporations can be downloaded from the...
This article discusses the process to involuntarily dissolve a corporation in California when there is director deadlock. Director deadlock exists, and a court may dissolve a corporation in California,* if ALL of the following happen: 1) the board has an even number...