Category: Start Up Information

Maybe You Don’t Need a Small Business Law Firm After All

Written by JGPC Business Law on October 22, 2015.

For many small business owners the major drawback of setting up an entity is of course the cost. It’s true that there are some costs, for example formation costs, these are minimal but you may not regard them as minimal if your budget is small. Some businesses aren’t real businesses, as they are operated out of somebody’s house and they’re operating more of a hobby than a business. For those people, forming an entity may not be feasible because of the costs involved. Even though the...

Do I Really Need To Form A Corporation?

Written by JGPC Business Law on October 9, 2015.

If you’re a business owner or a startup entrepreneur you need to set up the correct entity for your specific business. You have four basic options: Stay a Sole Proprietorship Form a Partnership Form a Corporation Set up a Limited Liability Company (LLC) Each of these business structures has different benefits and drawbacks. Businesses often start out as sole-proprietorships or partnerships These two structures are not advisable because they are both subject to unlimited liability. Why a sole-proprietor...

LLC Design and Implementation

Written by JGPC Business Law on March 5, 2013.

LLC Design and Implementation Tax Considerations and Consequences LLCs come in four basic forms based on tax treatment which is usually chosen by the members. The four forms of LLC’s based upon tax treatment we shall call: (i) LLC-D’s (those LLC’s taxed as a disregarded entity) (ii) LLC-P’s (those LLC’s taxed as a partnership) (iii) LLC-S’s (those LLC’s tax as an “S” corporation) (iv) LLC-C’s (those LLC’s taxes as a “C” corporation) These four forms of the LLC are functionally very different...

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LLC Asset Protection Strategies

Written by JGPC Business Law on January 4, 2013.

LLC Asset Protection Strategies Inside-Out Liability: As far as inside-out liability, members of an LLC have the same level of personal liability protection as the shareholders of a corporation. That is, creditors of the entity, whether corporation or LLC, cannot get thru to the owners, shareholders or members, unless the shareholders/members have personally guaranteed a corporation/LLC debt, have received an improper distribution or a court allows a piercing of the corporate/LLC veil because...

What is a Limited Liability Company?

Written by JGPC Business Law on January 6, 2012.

What is a Limited Liability Company? Many business transactions lawyers spend much of their professional lives creating, structuring and manipulating the “unnatural persons” of the legal world, those entities identified as “persons” under the law that are not “natural persons”. These “unnatural persons” are the building blocks of modern civilization. They are the conceptual entities or “legal entities” that we natural persons use to organize our lives and to bring continuity, stability and structure...

Alert – Online Notarization Services Illegal In California

Written by JGPC Business Law on April 6, 2011.

The California Secretary of State recently issued the following Alert Customer Alert – Online Notarization Services Are Not Legal In California Online webcam notarization is invalid and illegal in the State of California. A private company claims to have the first online notarization website and has sent misleading information and made false claims to California notaries public concerning a new online notarization service. The web-based platform purports to allow a person to submit copies...

Blue Sky Law

Written by JGPC Business Law on January 27, 2011.

LSI ANNUAL CONFERENCE 2008 – BLUE SKY LAW By Jim Gulseth, JGPC LAW, Pleasanton, California I. What Are “Blue Sky” Laws? “A blue sky law is a state law in the United States that regulates the offering and sale of securities to protect the public from fraud. Though the specific provisions of these laws vary among states, they all require the registration of all securities offerings and sales, as well as of stock brokers and brokerage firms. Each state’s blue sky law is administered by its...