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Risk & Asset Protection

Feb 10 2025
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How AI is Transforming Legal Risks for Businesses in Los Angeles

Posted by Posted in Compliance & Securities, Intellectual Property & Technology, Risk & Asset Protection
Los Angeles is home to an array of tech-driven business enterprises, including companies that are at the forefront of Artificial Intelligence (AI) development and innovation. The recent advent of AI tools and applications is both exciting and concerning. Why concerning? Because AI is creating potentially new legal risks and/or revealing existing legal risks that need to be addressed by LA business owners. Legal Implications of AI for Los Angeles Business Owners AI tools and systems…
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Jul 16 2024
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Strategies for Asset Protection

Posted by Posted in Risk & Asset Protection
Developing an asset protection plan in California presents creative opportunities and interesting challenges. A relevant strategy must be in place for licensed professionals in high-risk occupations.  Principal residences, real estate investments, liquid assets, and retirement accounts must be shielded from potential claims. The business attorneys in Los Angeles at The Hakim Law Group specializing in asset protection want those in high-risk professions to understand why a strategic protection plan is necessary. In California, licensed professionals,…
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Best Business lawyer los angeles
Feb 28 2023
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Protections Afforded to Limited Liability Companies and Partnerships

Posted by Posted in Risk & Asset Protection
If you are looking to start a business in Los Angeles, California, you may be wondering what type of business entity is best. Many business owners opt to form a limited liability company, which offer certain protections against the individual owner. Why? Because limited liability protection helps protect your personal assets from business debts and legal judgments. Essentially, limited liability protection provides a shield for your personal assets, meaning your personal assets are protected and…
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Best Business Attorney Los Angeles
Feb 16 2021
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Understanding Alter Ego Liability

Posted by Posted in Risk & Asset Protection
As a general rule, shareholders of a corporation are shielded from liability for the debts incurred by the corporate entity. This protection from liability exists because a corporation is treated as a separate, independent, legal entity from its shareholders capable of accruing assets and incurring liabilities. Basically, when you incorporate a business in California or any other jurisdiction, a “corporate veil” will drape over the business that protects you and any other shareholders from being…
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The New Employee Retention Payroll Tax Credit
Apr 27 2020
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The New Employee Retention Payroll Tax Credit

Posted by Posted in Risk & Asset Protection
The landmark $2.2 trillion CARES Act passed by Congress was designed to try and help support U.S. businesses and workers during the Coronavirus pandemic. The massive legislation includes an array of financial incentives and loan programs for business owners, including people who own startup businesses. One of these provisions is the Employee Retention Payroll Tax Credit.  This credit is designed to help businesses, including startups, retain employees, even in the face of steep declines in…
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business lawyer in Los Angeles
Feb 27 2020
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Resolving Business Disputes Outside of the Courtroom

Posted by Posted in Risk & Asset Protection
One of the biggest fears many business owners have is the threat of costly and length litigation. Why? Even when a business prevails in a lawsuit, the financial impact of litigating the case could be enough to force the business to close or reduce dramatically in size and scope.  The concerns related to cost and time are big reasons why a large percentage of business owners strongly prefer resolving legal disputes through alternative forums and…
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business attorney in Los Angeles
Jan 12 2020
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Insurance Coverage Helps Minimize Financial Risks

Posted by Posted in Risk & Asset Protection
If you own a business in Los Angeles or elsewhere in California, there are numerous legal issues you need to proactively address to ensure your business is not exposed to financial turmoil if an unexpected event or lawsuit arises. There are multiple forms of insurance coverage you could purchase for your business to protect certain aspects of your daily operations. Here are some examples of the types of insurance policies that could benefit your business:…
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Business lawyer in Los Angeles
Dec 12 2019
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How to Effectively Reduce Liability Exposure of Your Business

Posted by Posted in Risk & Asset Protection
Many people are surprised to learn how common it is for a business to close, not because of bad management, client service, or a bad product, but rather, because of litigation.  While you cannot preclude a third party from suing your business – even if the lawsuit is frivolous – there are specific actions you can take to protect you and your business from significant civil liability.  Here are specific tips on how to protect…
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Aug 16 2019
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The Dangers of Piercing the Corporate Veil

Posted by Posted in Risk & Asset Protection
Many business owners choose to incorporate their business to avoid personal liability for the debts and liabilities of the business. When done properly, the business is a separate and distinct entity from its owners. However, if the owners are not careful with certain corporate formalities and fail to adequately capitalize the company, a third party may be able to “pierce the corporate veil,” which would shatter the protection of the corporate structure. To the extent…
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