I believe the answer is no. I met an acupuncturist in Venice Beach who had just started her practice. She wanted to know if she should organize her business as a limited liability company or as a corporation. Cal. Corp. Code 17375 prohibits a limited liability company...
Over the years, particularly when I worked in politics, I have had the pleasure of working with several interns. The experience is gratifying to serve as a mentor and to watch the next generation develop. All of them know they can call me at anytime.Several...
You’ve got the idea for BestApp that’s about to change the world and raise Steve Jobs from his grave with appreciation. Your rich uncle from out of town spiced his eggnog a little stiff over the holidays and you cornered him to help you fund...
MISTAKE NUMBER FOUR: WE DID IT ON A HANDSHAKE. Putting an agreement in writing sounds a lot like the professor assigning homework and many entrepreneurs would rather go to the dentist than spend the afternoon working on a long document. I interviewed a potential client who...
Anyone who watched the much-acclaimed The Social Network directed by David Fincher begins to grasp these issues when cheering on for Eduardo Saverin, who is played by Andrew Garfield. The tech revolution brought on an expectation of wider ownership by more employees and consultants. This...
MISTAKE NUMBER TWO. LACK OF EXIT STRATEGY I love entrepreneurs. Despite the overwhelming odds against a business, they never seem to imagine the possibility of failure and for all of my talk of optimism, a good lawyer should also serve as a sounding board and counsel...
Sometimes the owner-entrepreneur of a new company hires legal counsel the first day, sort of like how it would occur in a textbook. More likely than not, however, they’ve been trying to skimp on legal fees and have avoided seeking counsel until a problem arises.I...