Does your LLC or Corporation have Legal Standing?

The vast majority of small business LLCs and corporations in California may lack legal standing due to being improperly formed. To be properly formed under California law: LLCs must file articles of organization with the Secretary of State. These articles must be formally adopted by its members along with a signed operating agreement during its initial organizational meeting and recorded in the first minutes and
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Categories: ASSET PROTECTION, CORPORATIONS & LLCs, and SMALL BUSINESS ADVISORY.

Proper Formation and Maintenance of LLCs and Corporations is Mandatory

Proper formation of your LLC or corporation is mandatory to have legal standing in California. LLCs that lack operating agreements and corporations without approved bylaws may not be protected in California. Without legal standing your home and personal assets could be exposed to business lawsuits, liens and creditors. (See our article: “Does your LLC or Corporation have Legal Standing?” for details). Not only are operating
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Categories: ASSET PROTECTION, CORPORATIONS & LLCs, and SMALL BUSINESS ADVISORY.

Alter Ego Blunders—Piercing the Corporate Veil

If your company is sued, can you be held personally liable? Many people form LLCs and corporations to protect their home and personal assets from business judgments, but the vast majority of small corporations and LLCs have absolutely NO protection, because their owner’s commit alter ego blunders. Alter ego means that the company appears to be an alternate version of the owner; that the law
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Categories: ASSET PROTECTION and CORPORATIONS & LLCs.