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It is critical that you work with a business attorney as soon as you start to come up with, and begin working on, a new idea or venture. Too often inventors, entrepreneurs, and innovators, begin working on a project and form a partnership without ever speaking with an attorney. This could be to your detriment and typically is. This is especially true when you are working on a new invention or improving on an existing […]
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10 Sep '16
Many startups make the mistake of forming a company without seeking the advice of an attorney. For example, if you come up with a great idea, are working on a new technology platform, or decide to start selling a new product, it is easy to go online and follow the steps to incorporate your own business. You can do so by simply filling out some forms, filing them, and paying the fee. While it may […]
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10 Aug '16
Like any other contract or written agreement, letters of intent are important business documents that record the terms discussed in negotiations for a particular transaction. Accomplishing a variety of business objectives, when writing a letter of intent, one wants to make sure to include the following four elements: Terms and Condition In most situations – other than for buyers of a business – letters of intent should establish as many details as possible to describe […]
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16 Mar '16
In the event that death, bankruptcy, divorce, or a material dispute between business partners occurs, it is important for preparations to be made in advance of such unpleasantries. One of the most important contracts in a business relationship, the buy-sell agreement, helps address these situations. If you are contemplating whether to formalize a buy-sell agreement or considering improving your existing buy-sell agreement, here are several advantages that well written buy-sell agreements provide to your business: […]
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09 Mar '16
Perhaps no asset is more valuable when beginning a company than capital. Raising capital, though, requires compliance with applicable security laws or risking legal repercussions. Here are five tips for startups engaged in the process of raising capital: Pick the Right Investors While getting someone to write you a check is important, the person writing that check is equally as important. Look for an investor who can contribute more than money to the operation. Preferably, […]
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23 Feb '16
Incorporating a business involves more than just filing the articles of incorporation with the state’s secretary of state. Failing to perform the necessary additional steps can create financial and legal problems. What follows are 5 essential steps in business incorporation: Choose Your Management Team The selection of a board of directors is a straightforward but essential task in a valid incorporation. Based on the type of corporation or state of incorporation, the number of directors, […]
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Startups often rely on independent contractors to handle essential duties as a company gets off the ground. The benefits are obvious: work is paid for as needed and you get clear returns for the money you invest. Waste is minimal – and you do not have to pay for employment tax or workers’ compensation insurance. However, you have to be careful about the demands you make on independent contractors as they work. What Makes a […]
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Prior to launching your business, any limited liability company or corporation needs to pay California’s minimum franchise tax ($800) if using a California address as your company headquarters. A company that plans to have its base in, say, Oregon while registering to sell goods in California, may also need to pay the franchise tax fee, depending on various factors, including whether it leases space or hires employees in the state of California or if any […]
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As the tech industry continues booming, we are seeing an increase in the number of disputes between employers and past employees over intellectual property (IP). Claims made against ideas developed while under contract have the potential to undermine the foundation of startups. Prior to launching a company with material IP that could be contested, entrepreneurs should seek the counsel of a qualified startup lawyer. Assignment Agreements in Company Contracts Tech industry employment contracts typically have […]
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On October 30, 2015, the Securities and Exchange Commission approved new rules for equity crowdfunding by companies as part of the JOBS Act (Title III), also known as Regulation Crowdfunding. The rules will become effective May 16, 2016. Here is a summary of the basic rules every business should know if it is looking to raise capital under the new crowdfunding regime. Caps for businesses and single investors. Businesses can raise only up to $1 […]
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As a serial entrepreneur and CEO of companies both small and national, I cannot think of more trustworthy and competent counsel than Afshin Hakim. He is one of the best attorneys in Los Angeles.
Juve Vela, Psy.D., CEO/PresidentUnderstanding Behavior, Inc.The strategic advice Afshin provided our company in connection with closing a transaction and navigating through litigation issues was priceless and crucial towards our success. Afshin is the kind of lawyer every CEO would love to have.
Brandon KashfianAltaThera PharmaceuticalsHakim Law Group has consistently delivered high quality advice and documentation ahead of our timelines and on or under budget. They remain a key ally for us in all aspects of our corporate development.
Alexander C. LogiePersonally, Inc.