Protecting your business starts before it even begins – It starts with structure
You’ve spent countless hours strategizing, launching and running your business. Whether you run a small business, a venture scale startup, or a large scale enterprise, you need to protect your investments of time, money, and energy. The best way to do so is by implementing the right legal arrangements now so you do not have a disaster in the future.
Protecting your business starts before it even begins—it starts with structure. No matter what type of business you’re in, you need to know what potential legal risks and liabilities your business exposes you to. Once identified, you need to put in protections to prevent those risks from occurring or to minimize damage in case one does occur. Forming the proper business entity structure can ensure that you and your family are protected from personal liability in the event something goes wrong.
You also want to think of your main business goals early on. If you have partners, you will need partnership agreements to outline each partner’s rights and duties in the relationship. If you have investors, you will need an agreement outlining the investor’s rights, such as whether the investors have voting rights or just economics rights to share in profits. If you have executive-employees, you will want to have agreements in place outlining their duties and responsibilities.
Choosing the right entity structure is can also be very important. Corporations, limited liability entities, partnerships, and sole proprietorships all have benefits and downfalls. However, certain business goals require certain entity structures or may even have to be formed in certain states. For example, venture capital investors prefer to invest in Delaware entities because of their familiarity and preference for Delaware law.
Once your business is formed and you’ve taken care of foundational filings and agreements, you will have to take care of things like regulatory compliance and reporting, intellectual property assignments or license agreements, employment or independent contractor agreements, purchase-sale agreements, real estate agreements, and many other contract negotiation and drafting events. Having a lawyer available to draft or review agreements for you ensures you do not have to stress about these often confusing areas.
Ortiz Law provides all the mentioned services related to business formation, contract negotiation and drafting, regulatory compliance and reporting, or general legal risk analysis and mitigation. We are a boutique law firm that provides some of the best rates in Southern California.