Articles Tagged with corporation

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Being a brand new startup is exciting, but is not exempt from challenges. One of the very first things you have to decide right away is what type of business you will be. This decision alone will greatly impact any other business decision you make. It is absolutely critical that you work with a seasoned business attorney to help you navigate the complicated process of being a brand new business. The three key areas that California businesses should consider are: partnerships, corporations, and limited liability companies (LLCs). The following offers a brief explanation of each entity.

Partnership

A partnership business is exactly what it sounds like. It is a business where there are at least two owners. Each owner has equal decision-making power and is involved in all aspects of the business functions. It is absolutely critical to discussion various aspects of the business including:

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In today’s world the title “Chairman of the Board” is rather outdated. Thousands of companies are started or managed by women, men, and transgender individuals. Such outdated titles are addressed in a new law (i.e. SB 351) introduced by the Committee on Banking and Financial Institutions (Senators Block (Chair), Galgiani, Hall, Hueso, Lara, Morrell, and Vidak) and co-sponsored by the Nonprofit Organizations Committee and the Corporations Committee.

The new law amends various portions of the Corporations Code and aims to provide authorization to act during emergencies for consumer cooperative corporations and to broaden the range of titles for both for-profit and not-for-profit corporate officers.

This new law was signed by Governor Brown on July 15, 2015 and will go into effect on January 1, 2016.