Patent trolls are companies that acquire patents with the sole intention of suing other businesses for infringement. They often target small businesses or startups that may not have the resources to defend themselves in court. The average patent lawsuit defense can cost $6,000,000 or more so the trolls are out to extort licensing settlements.
When it comes to the tax landscape for Limited Liability Companies (LLCs), navigating the various tax options can be daunting. However, it is crucial for LLC owners to understand these options thoroughly to make informed decisions for their businesses. In this blog, we will shed light on the different types of tax returns available to LLCs and the benefits each option offers.
As an entrepreneur, you've invested time, effort, and passion into building your business. It's not just a livelihood; it's a part of your identity. However, one aspect many business owners overlook is planning for the future of their company when they're no longer at the helm. A business succession plan is a crucial strategy that ensures a smooth transition of ownership and management, safeguarding your legacy and protecting the interests of your loved ones. In this blog, we'll outline the essential steps to create a comprehensive business succession plan, with a special focus on the role of life insurance in the process.
Investing in real estate can be a rewarding venture, but it's important to consider the legal and financial implications. One common strategy for protecting your assets and optimizing tax benefits is to establish a limited liability company (LLC) for your investment properties. In California, specifically, there are several compelling reasons to utilize an LLC structure.
Expanding a business into foreign markets can be a complex and challenging process, but it can also be a rewarding way to grow your business. Here are some steps you can take to help expand your business into foreign markets:
Succession planning in California is an often overlooked aspect of business ownership. This is a problem because it creates unnecessary risks. When key employees leave the business for whatever reason, the business can be detrimentally affected and go downhill quickly. But with a succession plan in place, leadership remains intact and harm to the business can be avoided. At The Burns Firm, our estate planning lawyer based in Orange County handles business succession plans for business owners. We aim to keep your business successful regardless of any changes you face over the years. Contact us at 949-306-8642 to schedule a Free 15 minute call and to make sure your estate plan has all the tools you need to safeguard yourself, your loved ones, and your business.
Franchises in California offer great opportunities for business owners or people who want to be business owners. We have all at one point or another done business with a franchise, whether that was to purchase food, other merchandise, or participate in some activity. But the laws pertinent to franchises can be complicated. Plus, there are federal and state laws to contend with. Failure to comply or uphold your responsibilities as a franchisor or franchisee can break your business.
Have a great business idea in California that you need to put into action? Over the last few decades, startups have taken over, and some of the best are not limited to tech startups. They are in every industry, from health (e.g., Devoted Health) to consumer and retail (e.g., Juul Labs), e-commerce (e.g., goPuff), artificial intelligence (e.g., ByteDance), financial tech (e.g., Stripe), supply chain (e.g., Instacart) and more. Getting started with your startup business, however, is the hard part. There are laws and regulations that must be followed. Getting it right can mean either a solid foundation from which your business will grow or a rocky foundation from which your business may fail.
Many different situations can lead to a business sale or purchase. A company’s owner or partner may want to transfer ownership through a business succession plan. An entrepreneur may want to purchase a business that is already in full operation rather than start their own business from the ground up. One business may merge or acquire another business. For each situation, there are specific legal requirements that must be satisfied. Failure to adhere to the legal requirements and deadlines may result in frustrations that impede the sale or purchase of a business. Working with a business law attorney will ensure that your business sale or purchase in California is completed successfully.
Does incorporating still make sense when you're a sole proprietor?