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Entity Formation & Structure

Business attorney los angeles
Dec 17 2021
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Why So Many People Decide to Incorporate Their Business in Delaware

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Delaware is, by far, the most popular state for incorporating a business. In fact, Delaware is the home of more than half of all businesses currently in the Fortune 500, according to Reason.com. This routinely leads many people to ask…why? Well, the answer is multi-faceted and includes different factors such as tax benefits, legal benefits, and practical benefits. Let’s take a look at just a few of the most common reasons why business owners opt…
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Create an LLC with Hakim Law Group
May 10 2021
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Creating an LLC in California – Pertinent Info You Need to Know

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If you are looking to start a business in or around Los Angeles and want to establish a limited liability company (LLC), there are important issues and potential pitfalls you need to become aware of before making the proverbial leap and forming an LLC. What is a Limited Liability Company? An LLC is a type of business entity designed to shield business owners from personal liability from the ownership and operation of the business. When…
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Best Corporate Attorney Los Angeles
Feb 16 2021
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Should You Divide Your Umbrella LLC Into Multiple LLCs?

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When someone is managing multiple businesses under one “umbrella” limited liability company, a question that commonly arises is when, if ever, is the appropriate time to divide those businesses into multiple LLCs? Let’s take a look at the common benefits, and potential pitfalls, associated with splitting a multi-business LLC into multiple LLCs. Benefits One of the biggest benefits associated with dividing an LLC used as an umbrella to multiple businesses is that it helps further…
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Business Lawyers in Los Angeles
Jan 10 2021
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Should You Structure Your Business as a Protective Series LLC?

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If you are starting a business, one of the first issues that needs to be addressed is what type of business entity you want to form. There are partnerships, limited partnerships, C-corporations, S-corporations, and the limited liability companies (LLC). Out of these options, the LLC is one of the most popular and prevalent structures used by millions of people throughout the United States. The popularity of LLCs is generally due to the inherent flexibility as…
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Corporate Lawyer Los Angeles
Oct 15 2020
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Important Questions That Need to Be Answered When Forming an LLC

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Starting a new business venture is an exhilarating experience, but is also rife with potential risks and pitfalls. Hence, it is so important to conduct a level of due diligence to ensure the business is worth your time and effort. There are a variety of services available online that assist entrepreneurs in creating a business. However, simply filing the paperwork to starta business is just the first step in a fairly lengthy and arduous process.…
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Contract Lawyer in Los Angeles
Sep 09 2020
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Sole Proprietorships and Other Individual Business Ventures

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If you are the owner of a sole proprietorship, single-member LLC, or other individual business venture, it is important to document your transactions, even if they only involve you (the business owner) or other related parties. Let’s say, for example, there is corporation with two shareholders that needs more equity to grow the business.Both shareholders agree to extend a loan to the company and with the expectation of getting reimbursed within five years. Even though…
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Business lawyer in Los Angeles
Dec 21 2019
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Considering a Limited Liability Partnership?

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If you are looking to start a professional business with another individual (oftentimes a close friend, colleague, etc.) in California, one of the first issues that needs to be addressed is whether it makes sense to create a limited liability partnership  (an “LLP”) or go with another structure like a professional corporation.  If you decide to form an LLP, it can provide your partnership with an opportunity to build and maintain a strong working partnership…
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Jun 13 2019
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Three Reasons Why Incorporating Makes Good Business Sense

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Many people going into business become so consumed with finetuning their service or product that they overlook the importance of protection afforded to them and their business interests through incorporation. If you want to avoid a host of potentially damaging issues – including false claims of ownership by others and creditors coming after you personally to satisfy debts of the business – the sooner you incorporate, the better. In this issue, Afshin Hakim, a highly…
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Aug 23 2017
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Sole Proprietorship vs. Forming an LLC

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Whether it’s selling gadgets as simple as Fidget Spinners, or something much more complex, like creating the next grocery delivery service app, every business needs to be run efficiently and properly to make it through its first year. When running a business, issues such as taxes, liability, and insurance may arise. As the wheels start moving, one may ask: Should I continue my sole proprietorship, or form an LLC? Not every business starts with “a…
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