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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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13 Nov '21If you own a business, it is extremely important to understand and embrace the key elements of a legally valid, and enforceable, contract. The information below summarizes the five key components that virtually every contract should have for your business to operate successfully. No. 1 –Written Agreement Between All Parties Arguably the most important component to any business contract is that the agreement and terms between the parties are in writing. Please understand that a […]
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When a startup is receiving professional assistance in raising neededcapital to continue growing the business and the brand, a common issue arises – whether the startup is allowed to compensate the individual helping raise capital with a commission or transaction-based fee if he or she is not a licensed broker dealer. Here is the answer: generally, no. This type of compensation structure is not allowed. Specifically, the use of an individual who is not a […]
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22 Oct '21A business breach could occur in many ways, depending on the specific terms of your agreement. Nevertheless, if your business partner failed to adhere to the terms of the agreement, you may need to escalate the matter and take legal action, especially if the breach wound up damaging the company. Assessing Your Options Addressing issues with a business partner is not always easy.When a breach of contract has occurred, it is in your best interest […]
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If you are a business owner in California attempting to enforce an arbitration clause in an employment dispute, then you need to take notice of two California Courts of Appeal decisions that address issues that could result in a court negating the efficacy of an arbitration provision. The first notable decision can be found in Garcia v. Haralambos Beverage Co. In this case, the Second District Court of Appeal upheld a trial court’s decision to […]
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05 Aug '21Typically, we enter into business agreements with the expectation that things will run smoothly. Whether it is a shareholders’ agreement, an employment agreement, or an agreement for supply of services. An agreement covers all the details that a handshake cannot cover. For instance, what happens when a dispute arises between the parties? How will the dispute be resolved? A well-drafted business agreement not only lays out the terms of a business deal, but it anticipates […]
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If you conduct a search for a specific business on the California Secretary of State’s website, you may discover a business labeled as “FTB Suspended.” If a business has been tagged with this label, it means the California Franchise Tax Board (FTB) has decided to suspend the business. If your business winds up getting suspended by the FTB, the ramifications can be severe. For example, when your business is suspended, you are unable to legally […]
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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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25 Apr '21Small businesses are the backbone of the U.S. economy. Each year, thousands of new businesses are created with the goal of achieving sustained success. However, starting a business does not mean that entity will remain active in perpetuity. In fact, for a variety of reasons, many businesses each year are closed and have to be dissolved. If you find yourself in this situation, it is extremely important to take the necessary steps to properly dissolve […]
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The use, management, and maintenance of personal information by companies has received significant attention, and even national headlines, due to multiple states enacting consumer data privacy laws. California took center stage with the passage of the California Consumer Privacy Act (“CCPA”) in 2018, followed by the California Privacy Rights Act (“CPRA”) in 2020. This is why, as a business owner operating in or around Los Angeles, you need to invest the time and resources to […]
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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.