5 Steps to Selling Your Business in the State of California

If you are looking to sell your small business in the state of California, here are a few things you need to consider. #1 Proper Valuation of the Business Before you can sell your company, you need to have a general idea of what it is worth. It’s going to come down to things such as annual revenue, any existing liabilities, current assets, and the value of any intellectual property that will be part of the sale. #2 The Terms

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Does Your Business Structure Require an EIN?

Are you starting up a new business and wondering if you are going to need to get an Employer Identification Number for tax purposes? If so, there are a few factors to consider about your business structure, as these will have a bearing on whether the answer is yes or no. An Employer Identification Number – A Must for Employers The biggest factor is whether your company has any employees. If you need to withhold federal taxes in someone who does

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3 Tips for Better Commercial Lease Negotiation

When starting a new business, many entrepreneurs opt for a short-term agreement. No matter how confident you may be about your startup, it’s prudent not to jump into the deep end until you know if your idea will stay float. However, your next lease can be just as important to the success of your business. While you may not be making the kind of commitment that SpaceX is on their new long-term lease, getting roped into a bad commercial lease

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2017 Update – New California Laws that Affect Small Businesses

The National Federation of Independent Businesses (NFIB) has recently reviewed a slew of new legislation that may affect small business owners in the state of California. They called the report “The Good, The Bad, & The Ugly” and it outlines some beneficial new laws along with a few that may cause complications for small business owners. Here are a few selections from the list that you may want to know about. Good Bills Proposed or Passed One example of a

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Intellectual Property & Patents: Protecting Yourself During a Joint Venture Agreement

What is the difference between a joint venture and a partnership? How can you protect your intellectual property and patents if you decide to enter into a joint venture agreement? Here are some suggestions for small business owners who want to take this step. Joint Venture Agreements Vs. Partnership Agreements A partnership is a type of business arrangement where more than one party enters into an agreement to share a business together, including any profits or liabilities. A joint venture

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Play 16, “Maybe You Shouldn’t Incorporate.”

Welcome to another week’s Play from my Small Business Legal Playbook. I hope the tips are helpful to you and your business, as these Plays are specially designed to give you a little insight on the legal side of running a small business. Today’s Play, Play 16, “Maybe You Shouldn’t Incorporate” is the final Play for this Season. Play 16 is a little different from my previous Plays, and that’s why I saved it for last. Play 16 is about

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Play 15, “Franchise – Franchising Your Business.”

Welcome to another week’s Play from my Small Business Legal Playbook. I hope the tips are helpful to you and your business, as these Plays are specially designed to give you a little insight on the legal side of running a small business. Today’s Play, “Franchise – Franchising Your Business” involves something several of my clients are familiar with: either opening a franchise of an established business (like a fast-food restaurant chain, or a postal business.) In Play 14 we

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4 Tips for Buying a Business in California

Do you want to own your own business but don’t want to deal with the startup costs such as building an inventory and a customer database? Buying an existing business may be the option you are looking for. There are some pitfalls to watch out for, however, so we’re about to provide you with 4 tips to help ensure a smooth transfer of ownership. Tips for Buying a Small Business in California Buying an established business can be a great

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5 Steps to Business Partnerships and Documentation in California

If you and a business partner are starting a company in California, it is important to understand local and federal legislation that affects everything from how the partnership agreement needs to be worded to how taxes on the business are paid. Here are 5 important steps when it comes to forming a business partnership in California. Step 1: Selecting a Business Name This step involves several things. First, you need to choose a company name. Then you have to check

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Play 13, “It’s Time to Break Up, LLC Edition Defensive Strategies.”

Welcome to another week’s Play from my Small Business Legal Playbook. I hope the tips are helpful to you and your business, as these Plays are specially designed to give you a little insight on the legal side of running a small business. Today’s Play, “It’s Time to Break Up, LLC Edition” involves something most of my clients never expected to do: end a business relationship with their business partner. So, what are the strategies I can recommend? First, talk

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