Spring isn’t just a time for cleaning—it’s also the perfect time for corporations and LLCs to take care of important annual legal formalities. Whether you’re a solo entrepreneur or manage a growing company, your annual meeting and related documentation are essential to keeping your business compliant and protected. What Is an Annual Meeting? An annual meeting is a formal gathering of a corporation’s shareholders and/or board of directors, or an LLC’s members and managers, to review the company’s performance, approve important decisions, and reappoint leadership if needed. Whether you’re running a single-member LLC or a corporation with a board and... READ MORE

If you own a business, you may have heard the term “registered agent” but might not fully understand its importance—until it’s too late. A registered agent is a designated person or service responsible for receiving legal documents, lawsuits, subpoenas, and official government notices on behalf of a business.   Why It Matters   Having a reliable registered agent ensures that if your business is sued or subpoenaed, you are promptly notified and can take action. Without one, you risk missing critical legal deadlines, which can lead to default judgments, penalties, or even losing your case without having a chance to defend yourself.  ... READ MORE

As business attorneys, we see it all too often—contracts that are outdated, unclear, or worse, unenforceable. A contract is meant to protect your business, yet many companies operate with agreements that haven’t been reviewed in years. As we step into 2025, now is the perfect time to give your contracts a fresh look and ensure they’re working for you, not against you. Why Contract Reviews Matter Laws change, business relationships evolve, and what worked a year ago may no longer be in your best interest. In California, new laws taking effect in 2025 could impact employee rights, workplace policies, independent... READ MORE

MARCH 21, 2025 UPDATE Consistent with the U.S. Department of the Treasury’s March 2, 2025 announcement, the Financial Crimes Enforcement Network (FinCEN) is issuing an interim final rule that removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) to FinCEN under the Corporate Transparency Act. What’s Changed?Only foreign companies that register to do business in the U.S. are now required to report BOI.U.S.-formed companies (formerly called "domestic reporting companies") are exempt. What This Means for You:If your business was formed in the U.S., you no longer need to file BOI reports with FinCEN.U.S. persons... READ MORE

The Los Angeles County Department of Public Health has announced a new pathway for home-based food entrepreneurs. Starting November 1, the Microenterprise Home Kitchen Operation (MEHKO) program will allow residents to prepare and sell food directly from their home kitchens, operating as small-scale “mini restaurants” under state law. For aspiring home chefs, this program is a game-changer. The permitting process for MEHKOs opened on October 7, creating a formal route for home-based food businesses to legally serve the public while meeting health and safety standards. Each business must be operated by a resident in their own kitchen, allowing for the... READ MORE

In the realm of business transactions, a Letter of Intent (LOI) plays a vital role in outlining the preliminary terms of a deal before parties engage in detailed negotiations and due diligence. Used across various contexts—such as business acquisitions, real estate transactions, leases, and loans—LOIs can help facilitate a clearer understanding of the parties' intentions. However, while LOIs can be advantageous, they also come with potential pitfalls. Below, we explore the benefits, disadvantages, and common pitfalls to consider when using an LOI. What is a Letter of Intent? A Letter of Intent serves as a framework for a future agreement,... READ MORE

Legal Considerations for Distinguishing Between a Hobby and a Business Understanding whether your side hustle qualifies as a hobby or a business goes beyond just tax implications; it involves significant legal considerations. This distinction affects how you operate, your financial obligations, and potential liabilities. Differentiating Between Hobby and Business The primary distinction between a hobby and a business lies in their objectives. A business is conducted with the intention of making a profit, while a hobby is pursued for personal enjoyment without the intent to generate income as a primary objective. This differentiation is vital because it affects the side... READ MORE

For small businesses long-term success requires more than just a great product or service. It also demands careful attention to legal matters to ensure compliance, mitigate risks, and protect the business's interests. As business attorneys, we've identified several key legal must-haves that every business should implement to lay the groundwork for sustainable growth and success. Choosing the Right Legal Structure First and foremost, every business needs a solid legal structure. Whether you're a sole proprietorship, partnership, limited liability company (LLC), or corporation, choosing the right legal structure is essential for protecting your personal assets, minimizing tax liabilities, and defining your... READ MORE

Online interactions are the norm for anyone doing business today. As businesses use websites and mobile apps to connect with their audience, there are certain responsibilities that businesses have to follow not only as required by law but to ensure a positive relationship with customers. Two key areas: Privacy Policies and Terms & Conditions - often get confused, but both serve distinct roles with different focuses. Let's explore the differences and why both are essential, especially in the context of laws that may apply. What is the Purpose of a Privacy Policy?A Privacy Policy functions as a detailed disclosure of... READ MORE

Since this post was written, there are updates to the status of the requirements. Please refer to the most current post or contact our office for the latest. Contact Chase Law Group at 310-545-7700. Starting on January 1 2024, your company may be required to report information about the people who own or control it to the US Treasury Department’s Financial Crimes Enforcement Network (FinCEN). FinCEN promotes national security and protects the US financial system from fraud and abuse by criminals and corrupt officials. In 2021, Congress passed the Corporate Transparency Act which creates a new requirement for many companies formed or operating in... READ MORE