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sepilaw.com | 1875 Century Park East, Ste. 600, Century City, CA 90067
The Law Office of Sepi Ghafouri, Los Angeles Attorney
The Law Office of Sepi Ghafouri is a unique law boutique offering clients superior legal representation. We take pride in offering clients depth of experience and a creative approach in the areas of Business, Entertainment, Intellectual Property and Family Law.
May 24, 2011 – 7:25 pm
Los Angeles business attorney, Sepi Ghafouri, is now a featured writer on legal topics for a new women’s magazine entitled Ladies Touch Magazine.
Ladies Touch Magazine focuses on topics of interest for women in six issues annually including entertainment, fashion, lifestyle, health and more. Sepi Ghafouri has written an article about trademarks in the premiere issue and will be writing on legal topics in the fields of entertainment, business, intellectual property and family law in future issues. More information about Ladies Touch Magazine may be found on www.ladiestouchmagazine.com.
“As a Los Angeles business attorney, I am responsive to my clients’ legal needs and value educating them on the intricacies of their legal matters,” said Sepi Ghafouri Owner of the Law Office of Sepi Ghafouri. “Ladies Touch Magazine provides another medium for me to share my depth of experience and educate individuals in many areas of law.”
The Law Office of Sepi Ghafouri offers legal representation in many areas of law, including business and corporate law, family law, intellectual property law, entertainment law and more. Their mission is to provide clients with a comfortable environment where they are legally protected, valued and respected.
About The Law Offices of Sepi Ghafouri
The Law Office of Sepi Ghafouri is a unique law boutique offering clients superior legal representation. They take pride in offering clients depth of experience and a creative approach in many areas of law, including business and corporate law. As business opportunities and legal matters grow in size and complexity, relationships built on trust, respect, and integrity are ever more important. The Law Office of Sepi Ghafouri builds close-working relationships with clients based on these principles, defining the culture and service philosophy at the Law Office of Sepi Ghafouri.
The Law Office of Sepi Ghafouri provides legal representation to clients in the following California areas: Beverly Hills, Hollywood, West Hollywood, Long Beach, Santa Monica, Orange County, Bay Area, Los Angeles and the Greater Los Angeles area, San Jose, Santa Clara, Palo Alto, San Francisco, Silicon Valley, Marin, Sunnyvale, Mountain View.
For more information about the Law Office of Sepi Ghafouri visit http://sepilaw.com/.
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Older Articles May 23, 2011 – 2:10 pm
Are you considering starting your own business but not sure which business type is right for you? This article will give you some basic information about the different kinds of business types that currently exist in California (with the exception of non-profits). It is always important to seek the guidance of an attorney to make a final decision, but this article will help you get your ideas flowing in the right direction.
In California, there are currently six business types:
- Sole Proprietorship,
- Limited Liability Partnership,
- Limited Liability Company,
- Limited Partnership,
- General Partnership,
- Corporation.
In a Sole Proprietorship, one individual owns and operates a business. A sole proprietor has complete control of the business, receives all profits from and is responsible for taxes and liabilities of the business. A sole proprietorship can be formed using the owner’s name. However, if another name is used, a Fictitious Business Name Statement must be filed with the county where the principal place of business is located. No formation documents are required to be filed with the California Secretary of State. Other state filings may be required depending on the type of business. This type of business type poses the greatest legal exposure to liability. However, the ease of startup costs makes this advantageous to some people. This option makes it difficult to raise capital.
A Limited Liability Partnership (LLP) is a partnership that may be formed by individuals that are engaged in the practice of public accountancy, the practice of law, the practice of architecture, the practice of engineering or the practice of land surveying. An LLP may also provide services or facilities to a California registered LLP that practices public accountancy or law, or to a foreign LLP. In some circumstances an LLP is required by law in some of these fields to maintain certain liability insurances. To register an LLP, forms need to be filed with the California Secretary of State.
A California Limited Liability Company (LLC) generally offers liability protection similar to that of a corporation but is taxed differently. The individuals running the LLC are called members. In California, an LLC may have one or more members. California LLCs may be managed by one or more managers or one or more members. In addition to filing the applicable documents with the Secretary of State, an operating agreement among the members as to the affairs of the LLC and the conduct of its business is required. The LLC does not file the operating agreement with the Secretary of State but maintains it at the office where the LLC’s records are kept. An LLC provides liability protection and is a very flexible business type.
The advantages of a Limited Liability Company include limited liability protection for the owners, flexible profit distribution, no minutes required and flow through taxation. The disadvantages are that LLCs have a limited life where the LLC is dissolved when a member dies or undergoes bankruptcy. LLCs do not go public, and there is more paperwork involved as compared to a SP or Partnership.
A California Limited Partnership (LP) may provide limited legal liability for some partners. There must be at least one general partner that acts as the controlling partner and one limited partner whose liability is normally limited to the amount of control or participation of the limited partner. General partners of an LP have unlimited personal liability for the LP’s debts and obligation. Forms must be filed with the Secretary of State in order to form an LP.
A California General Partnership (GP) must have two or more persons engaged in a business for profit. Except as otherwise stated by law, all partners are liable jointly and severally for all obligations of the partnership unless agreed by the claimant. Profits are taxed as personal income for the partners. To register a GP at the state level, a form must be filed with the Secretary of State. This is optional.
All partnerships would be wise to have a partnership agreement drafted. The advantages of forming a partnership are ease of formation, low start of cost, having additional sources of capital available through the partners and a broader management base. The disadvantages can be unlimited liability of general partners in a GP, the liability of partners for the debts of the business and difficulty finding suitable partners.
A California Corporation is a legal entity which exists separately from its owners. While normally limiting the owners from personal liability, taxes are levied on the corporation as well as on the shareholders. The sale of stocks or bonds can generate additional capital and the longevity of the corporation can continue past the death of the owners. To form a corporation in California, forms must be filed with the California Secretary of State.
The advantages of a corporation are liability protection for the owners, raising additional capital by selling share or by transfer of asserts to the corporation, business continuity when the original owners retire, sell their interest or die, and opportunities for family members in terms of tax and estate planning. The disadvantages of a corporation include the additional costs and time involved with starting and administering a corporation.
Our office handles business formation of all types. Feel free to contact our office for further information about Los Angeles business law and fees at 310-702-7787 or via www.sepilaw.com.
Disclaimer: The information you obtain in this article whether through an online site or magazine is not, nor is it intended to be, legal advice. You should consult an attorney for advice regarding your individual situation. We invite you to contact us and welcome your calls, letters and electronic mail. Contacting us does not create an attorney-client relationship. Please do not send any confidential information to us until such time as an attorney-client relationship has been established.
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