RUNNING BUSINESS ENTITIES IN CALIFORNIA
Running your company—and the limitations on how you control the company’s operations—may depend, in part, on the type of business entity or structure that your company has.
Your company’s business entity entails inherent powers for its owners and managers, depending on the type of business entity—whether it is a sole proprietorship, general partnership, limited partnership (LP), limited liability partnership (LLP), limited liability limited partnership (LLLP), limited liability company (LLC) or a corporation. The business structure also influences other matters related to running the business, such as limitations on personal liability.
The San Francisco lawyers at the Zurada Law Group are knowledgeable about business law and can advise you on how to structure your business depending on how you want to run your company. The firm’s attorneys are also experts in other business formalities and instruments, such as partnership agreements, operating agreements and shareholder agreements, which will have a significant impact on how your company will be run.
For a partnership, a partnership agreement may contain highly important binding provisions about management and control of the business, duties of partners [owners], distribution of profits and losses, as well as partnership termination, among many other matters concerning the business. Comparable agreements for an LLC and a corporation, known as an operating agreement and a shareholder agreement, respectively, may also contain similar provisions that directly affect how a company is to be run.
For a FREE initial consultation, you may contact the Zurada Law Group’s San Francisco lawyers at 415-637-8483 or by filling out the Free Consultation space on this website.