Corporate Attorneys
From structuring to compliance, we’ve got your corporation covered. Our legal support will keep your corporation strong and ready to grow.
A corporation is a legal entity organizing all of your business operations in a structured format. You might hear it referred to accurately as a “collection of contracts” because that’s exactly what it is.
Bylaws, shareholder agreements, articles of incorporation or organization, all of these are agreements between you and others in the corporation. These corporate formalities, as they are often referred to, are pivotal to ensuring everyone plays by the rules of the company and also to protect the personal assets of its shareholders.
As Glendale’s corporate law attorneys, we can help guide you from inception to operation to protect your and your company’s interests.
Corporate Compliance
Whether you’re the sole owner and operator of your company or running it with a team of people, it’s important to remember that your corporation is a separate legal entity.
It may comprise of you and maybe others, but it operates as its own entity. This means that your corporation should always document every important decision made—whether you’re acting alone or in collaboration with a board of directors—through meeting minutes or board resolutions.
Additionally, it’s crucial for your company to establish a set of rules it follows, referred to as corporate bylaws for corporations or an operating agreement for LLCs (Limited Liability Companies). These documents outline the internal procedures and governance of your company.
Having these frameworks in place not only ensures that everyone in the company adheres to the same standards and helps avoid internal disputes but also protects you from “piercing the corporate veil.” This legal concept means that, under certain conditions, courts can disregard the separation between the corporation and its owners, potentially holding shareholders personally liable for the company’s debts, any judgments against it, or liens filed against it.
By maintaining proper corporate compliance, you safeguard both your business and personal interests.
Additional Corporate Law Services
- Corporate counseling and advising
- Providing solutions for shareholder or other internal disputes
- Risk assessment of corporate actions and decisions
- Structuring and restructuring recommendations, and much more
Need legal guidance for your corporation? Our corporate attorneys in Glendale, CA are here to help. Contact us today for expert legal counsel.
Why Choose Us?
As corporation attorneys who have litigated a variety of cases in the corporate and business setting, you can rest assured that we are prepared to identify obvious and subtle pitfalls for your business relationships.
Corporation Lawyers
Whether you’re a startup with big dreams or an established business, we’re here to help.
Frequent Updates
We will provide you with the latest news and progress on your matter as soon as it happens so you’re always in the loop.
Fast Support
If you have a question, a member from our staff will respond to your inquiry diligently.
Fair Pricing
We will do our best to prepare a quote that works with your budget.
Frequently Asked Questions
How does owning a corporation or LLC protect my personal assets?
Ever heard of the “corporate veil”? The corporate veil is the barrier between the entity and its shareholders and their assets.
This veil protects the shareholders from being personally liable for the company’s liabilities. This means if someone ever sues the company you can rely on the corporate veil to protect your personal assets like your house, car, bank accounts, or whatever you personally own.
BUT to benefit from the protection of the corporate veil it is absolutely vital to ensure your corporation operates on its own. This means you should never mix your personal funds with the company’s, among other acts. This is only one example of corporate compliance, and it is what will save you from personal liability if your corporation is ever sued.
I am the sole owner of my company: should I also do meeting minutes and resolutions?
Yes and yes!
Even if you are all on your own, you should definitely memorialize important decisions you make for your company and even conduct a vote annually to elect yourself for the officer positions of the company.
It is, depending on your specific circumstances, a simple act done a few times a year to promote your company’s corporate compliance. Doing this costs very little time and money in comparison to the personal liability you could face for the corporation’s liability for not being compliant.
Besides, keeping good corporate records aids in your company’s organization and helps future co-owners or potential buyers of your company to understand the company’s own history so they may make a well-informed decision that will ultimately benefit not just them, but yourself too.
What is the responsibility of a board of directors of a company?
A board of directors is responsible for a number of vital functions of the Company.
Some of these functions include electing or removing corporate officers, advising them on key laws and regulations affecting their business, protecting the interests of the shareholders, and overall controlling the direction of the company.
The board of directors owes fiduciary duties to the company and its shareholders. So when your organization or corporation ever becomes large enough, the existence of the board of directors becomes that much more important.
What are corporate bylaws and do LLCs need one?
In essence, bylaws are the laws of the corporation that each of its shareholders, directors, and officers must follow. They are the rules of the road for everyone who is a part of the company.
The bylaws outline elections for directors and officers, when annual meetings take place, what kind of decisions call for an election and who may vote on them, and other rules for the company’s internal operations. Bylaws can also outline how internal disputes are dealt with to avoid a negative impact on daily operations if they were instead brought to court.
Limited liability companies are considered less informal entities as compared to corporations but would greatly benefit from a comparable document to the bylaws known as an “Operating Agreement.”