A Limited Liability Company, or LLC, is one of several types of a business structures available to business owners who are just starting out. An LLC has several advantages, included liability protection for business owners and pass-through taxation. If you have chosen...
Business Law And Litigation
Which business structure should I choose?
If you are thinking about opening a business, it’s important to consider which type of structure might be the best fit for you. Business entity choices There are four general business structures, called a sole proprietorship, a partnership, a limited liability company...
Understanding material breaches of contract
As a maritime business owner, you will likely enter into several agreements, including vessel supply contracts, employment agreements, and charter agreements. All parties who sign the contract have a legal obligation to uphold the terms of the agreement. Failing to...
Which types of business structures allow for personal liability?
If you are owner of a maritime business in California, you know that businesses are not always profitable. Market changes and issues impacting the maritime industry worldwide, as well as unsuccessful business transactions, can cause a business to struggle financially....
5 ways to reduce your risk of a partnership dispute
You probably have high hopes for your business as you work to get it off the ground. But the excitement of forming your new endeavor shouldn’t blind you to the risks involved. If you don’t consider some of the challenges that you could face and adequately plan for...
Commercial lease pitfalls to avoid
Commercial tenants and landlords in California are both in the business of making money. However, they have to work together to make both of their goals achievable, and the first step in that process is signing a commercial lease agreement. There are common...
What happens if your business transaction leads to litigation?
As with marriage, no one enters into a business relationship expecting it to end badly. But, like a prenuptial agreement, a contract that outlines the expectations of the business relationship is crucial – and that contract must also delineate how disputes should be...
Five mistakes to avoid in contract negotiations
The contracts relied upon by your business can make or break your success. They can secure advantageous supply chains, finalize client obligations, and even help you keep your talent. While it may seem like the nuts and bolts of these agreements can be chalked up to...
Are the contracts you sign really protecting your business?
Business contracts can address an extremely wide range of possible situations, from leases and real estate contracts to operating contracts and partnership agreements – and everything else in between. So, what is the main purpose of all of the contracts your business...
Drafting a partnership agreement
Many people choose to run their business as a partnership, where two or more parties share the responsibilities of running the business. Business partners can formalize their partnership by drafting a partnership agreement to outline how the partnership will operate....