All businesses face various kinds of dilemmas in running a company, including those that involve legal issues. This is why it is important to have a corporate lawyer in Orange County contracted so that the legal aspects of running a business are taken care of. In this article, learn about a few of the most common issues faced by corporate attorneys in California.
1. Helping a Company Choose Which Type of Business Entity will their Company Become
When putting up a company, corporate attorneys can assist the owner in deciding on what type of business entity their company should be. Manufacturing or retail types of businesses, for example, are best suited to a limited liability company or LLC type of structure. On the other hand, if a business owner wants the company to have a lot of investors but retain autonomous control over the company operations, then a limited partnership is best.
2. Assisting in Choosing a Business Name
Deciding on the name for a company is not easy. There are many factors to consider. One important factor is that the business name should not be the same or similar to one that is already registered in the office of the secretary of state. Another factor to consider is that the name chosen should reflect the type of products and/or services that the business provides.
3. Prepare Contracts for Employees
There are times when a company will have to decide between hiring employees or using contract labor. Most companies choose contract labor because it is more favorable to them. Regardless of which a company chooses, contracts should always be a part of employer-employee relationships. Contracts the define details of the term of employment, which subsequently protects both the company and the employees. These details should include the legal measures appropriate for any break in the agreed terms.
4. Ensuring That Interests are Insured
Generally, companies will have interests that need to be insured, and a corporate lawyer can assist in this. There are different kinds of insurances. For example, professionals need a professional liability insurance, leases need insurances that have limits of liability and manufacturers need product liability insurance. The help of an insurance professional is also needed in this.
5. Securing Stockholder Agreements
As a corporation grows and becomes more valuable, more and more investors will be willing to invest stocks into the company. Stockholders will need protection against death, divorce, disability, etc. to secure the increasing value of the company.
6. Keeping Important Business Records
All business records must be updated and all expenses must be recorded diligently. All major decisions that have been made should also be thoroughly documented with details, such as how they were made, who were the authorities that made them, and how they were carried out. This way if any problems arise in the future due to these decisions, it is easy to look them up and see where things went wrong.Tags: Corporate attorney orange county CA, Corporate attorney orange county California, Corporate lawyer orange county CA, Corporate lawyer orange county California
This post was written by BusinessAttorney