Building Your Roadmap: The Basics of a Small Business Plan
Building Your Roadmap: The Basics of a Small Business Plan

Your business plan is a roadmap to your business’ success. It is the basis—the foundation—for creating a business that will beat out those SBA statistics, that will survive beyond year one and beyond. For you, the business plan is your guideline. For potential investors or venture capital providers, your business is insight. People who are considering whether to invest are going to be looking for an exhaustive outline of where you plan to take the business and how. And although banks and investors may have specific requirements when it comes to what’s in your business plan, below you will find... READ MORE

Options for raising capital for your small business (part 2)

You’ve worked out your business idea, but how do you move on to the next step and get your business off the ground? Access to capital is cited over and over by small business owners as one of their biggest challenges. Understanding your options for funding is the first step toward securing it and in this article we’ll cover several options. Before we dive in, though, it’s good to know that most small businesses piece together their funding from several different sources over time. So take stock of where you are and what you need for the near future knowing... READ MORE

Business Structure and Contract Basics


By DeAnn Chase September 14, 2020    Category: Business Law

Business Structure and Contract Basics

Solid legal structures, which include a business entity and customized contracts, are essential for business success. There are several types of business structures in the U.S. Each structure has different tax, income, and liability implications for businesses owners and their companies. Accountants are a good resource when determining the type of business entity. Sole Proprietorship Sole proprietorship is the simplest organizational structure available for businesses. A sole proprietorship is just a single person who does business through a fictitious business name. Businesses that typically form sole proprietorships are home-based businesses, shop or retail businesses, and one-person consulting firms. Partnership A... READ MORE

Can Professional Fiduciaries Form a Professional Corporation?

Licensed professional fiduciaries, like other licensed professionals, may find that they want to form a corporation in order to further protect themselves and better serve their clients. Many professional fiduciaries believe that a professional corporation, which is the type of entity employed by other licensed professionals like lawyers and doctors, would best suit their needs. Most states impose restrictions on who may own a professional corporation and the work it can do, and California is one of them. Unfortunately, there is not currently a mechanism in California for forming a professional fiduciary professional corporation. Though professional fiduciaries are required to... READ MORE

Professional Corporations: The “Whens” and “Hows”

Just like in any other sector, highly-educated professionals often find themselves wanting to set up a business entity to better allow them to protect themselves, serve their clients, and to share support services with other similar professionals. When these sorts of professionals want to start a business in the state of California, they are required to use a type of business entity called a “professional corporation.” When Should I Form a Professional Corporation? As discussed above, licensed professionals will need to set up a professional corporation, rather than an LLC or a traditional corporation. As a general rule, if you’re... READ MORE

Injunctions: What Are they and When Should You Use Them?

An injunction is an order granted by the court that requires the parties to not do a particular thing. Business contracts often refer to “injunctive relief” (or obtaining an injunction from a court to stop someone from doing something) or the related “specific performance” (requiring someone to do the specific things they agreed to do in a contract) as an option when economic damages are not sufficient to cover a problem. Examples of such situations include prohibiting contractors from sharing information they were given under a non-disclosure agreement and forcing a seller of a unique good to actually deliver the... READ MORE

Keeping Records for Your LLC


By DeAnn Chase February 25, 2019    Category: Business Law

Keeping Records for Your LLC

Many business owners choose to protect their business by forming a separate entity, such as a limited liability company (also known as an “LLC”). Often, forming an LLC for your business can hit the “sweet spot” of compliance concerns. This is because an LLC gives your business benefits like a formal structure, its own tax number, and some limited separation from yourself, while also avoiding many of the corporate formalities that are required with traditional corporations. Many business owners take this lack of corporate formality to mean that their LLC has no recordkeeping requirements whatsoever. Unfortunately, this is simply not... READ MORE

New Year, New Business, Let’s Talk Entity Formation

Business owners looking to grow and expand their businesses often do so by acquiring new assets, buying real estate, venturing into a new industry, or by acquiring an existing business. In many of these situations, it makes sense for business owners to establish a new entity to operate the new business or to hold the new assets. There are a number of reasons you may want to consider forming a new entity in this New Year. Different Business Owners or Investment Structure In some cases, business owners may want to form a separate entity for their new venture to allow... READ MORE

Crafting an Employee Handbook

As your business grows and you employ a number of people in different positions, you’ll want to consider putting together (and then periodically updating) an employee handbook. This document should be clear, well written, easy to search, and cover a number of different aspects about how your company’s policies will be applied. A handbook not only helps employees understand what is expected of them, but it also protects you in any potential future disagreement with your employees. Having clearly-written policies, which are then properly enforced, can be an integral defense in a labor dispute, and can even help prevent such... READ MORE

Workers’ compensation insurance is designed to provide wage replacement and medical benefits to employees of a company who are injured while on the job. These benefits are provided to employees in exchange for removing their right to sue their employer for the injury (with some exceptions, such as injury caused by intentional misconduct of the employer). In California, all businesses with at least one employee must provide workers’ compensation insurance to their employees, and this benefit must not be subsidized by the employees. Executive officers and directors of corporations must be included in a company’s workers’ compensation coverage, unless the... READ MORE