Who Owns A Business’s Customer List?
By Roy Schneider, Esq.
Many businesses have customer lists that they consider their own private property. It is common, however, for sales representatives and other employees to regard customer lists as theirs too, something they can take to a new employer.
For How Long Should a Business Keep Tax Records?
By Roy Schneider, Esq.
There are many reasons for retaining tax records. They can be a useful guide for business planning, for tracking receipts and expenses, and in cases where the company or shares are being sold to outside parties.
The IRS expects taxpayers to...
Do Single Member LLCs Provide Asset Protection?
By Roy Schneider, Esq.
A limited liability company is a very popular business form that combines some of the best features of a corporation and a partnership. Like a partnership, an LLC is taxed through its individual members. Like a corporation, it provides limited liability to its...
Common Area Expenses in Commercial Leases
By Theodore J. Schneider, Esq.
There are three primary different types of commercial leases: gross leases, modified gross leases and net leases. One variation of the net lease is a “triple net” lease, in which the tenant is liable for a net amount of property taxes, insurance and common...
Form I-9 Inspections
By Roy Schneider, Esq.
The Immigration and Nationality Act (INA) requires employers to verify the identity of their employees and their eligibility to work in the U.S. To comply, employers must retain original I-9 Forms for current employees and, for former employees, keep them for at least...
Corporate Bylaws: What Do I Need to Include?
Corporate bylaws matter in California because they set the internal rules that govern how a corporation is run, make decisions legally valid, and help prevent disputes among owners and directors. While bylaws are not filed with the state, California law expects corporations to adopt them and follow them. Well-drafted bylaws provide clarity,...
Do I need to file a DBA for my small business?
An Introduction to Benefit Corporations
A Benefit Corporation is a for-profit business that is legally permitted to pursue social or environmental goals while still earning revenue. Unlike a traditional for-profit corporation, directors are not required to focus solely on short-term shareholder returns and may consider the company’s stated public benefit when making decisions. For California business owners...
Terminating a Franchise Agreement
By Roy Schneider, Esq.
Buying a franchise can be a great opportunity for an entrepreneur to start a business using a successful operational structure of a proven model. Despite all the resources that a franchise provides, not all are successful. Unfortunately, with most franchises, you can’t just shut your doors and cut...
Financial Records and Your Business
By Roy Schneider, Esq.
In starting a business, entrepreneurs are inundated with paperwork, legal requirements and numerous planning meetings. While most of these activities seem burdensome, many business owners cite financial management and record-keeping as the most daunting task of daily operations. With some businesses having thousands of...