If you are an entrepreneur starting a business in California, you have a myriad of decisions to make, including the important choice of which type of entity to form. Choosing the proper entity for your particular business is vital for ensuring proper liability protection, tax structure, and management. This article is a brief overview of the differences between the various entities you can choose when organizing your business.
One of the most common types of lawsuits our clients face is wrongful termination from a prior employee. Should your business ever get sued for the same, one of the most useful pieces of evidence in defending such actions is the documentation related to that specific employee during their employment. Seems simple enough, right? But the key is what you include in such documentation.
Many businesses contract with Information Technology Service companies (“ITS”) to help manage their business internally and to also help manage the business with their external customers. ITS companies assist with the design, build, delivery, operation, and control of information technology. Unfortunately, we have found it is often the case that businesses will contract with an ITS company without carefully reviewing the terms and conditions of their service agreements. Further, businesses do not know what they should be looking for or how to redline (revise) such agreements before they execute them. And if these business relationships go sour, businesses are stuck with an agreement that makes it difficult and costly for them to terminate their ITS contract.
Getting served with a subpoena is not anyone’s idea of fun. We know. But getting served with a subpoena does not necessarily need to be as stomach-churning as it might be if you keep the following points in mind.
lthough there are some exceptions, most employees in California must be paid the minimum wage. It is well known that employers must comply with federal and state minimum wage laws. Less known is that employers must comply with local (regional) city and county minimum wage laws, which may be more generous than their federal or state counterparts.
Deciding whether to have a Paid Time Off (“PTO”) policy versus a separate paid sick time and vacation policy is a business decision. There is no one-size-fits-all approach, and our clients take varied approaches to the same. Both approaches, as outlined below, have pros and cons.
As readers of this blog may already know, Cal/OSHA has recently issued “new” COVID-19 regulations that govern California employers. Equally so, Cal/OSHA has published lesser-known documents that deserve an employer’s review and consideration.
People often wonder how they can transfer a title in real estate from one person or an entity to another. The issue arises because real estate is unmovable and cannot be physically handed over to another person or entity.
A letter of intent (“LOI”) may be used to identify and frame the deal terms of a potential transaction. LOIs may be binding, non-binding, or partially binding. In our experience, effective LOIs are typically partially binding, with the non-binding provisions relating to the description of the transaction, price, quantity, or delivery and with the binding provisions relating to the parties’ duties of confidentiality, due diligence, and exclusivity.
Buying or acquiring a business is stressful. But one of the most critical things a buyer can do is engage in a deliberate, methodological, and meaningful due diligence process before closing a prospective transaction. Due diligence is the homework that helps ensure all parties are making informed decisions, especially the buyer.