90% of businesses fail.
Don't be one of the 90%
The Law Office of Eric J. Proos, P.C, is your one stop shop for all your business essentials. From starting your business from scratch, to selling it, we handle all the legal work.
Most business owners don't even know their company is missing VITAL legal documents or structure. Not knowing the consequences can cost your company thousands, turn off investors, or completely derail your business.
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Here's a quick checklist of legal essentials for most businesses:
1. Registration with the state:
What is it? Filing the proper paperwork with the secretary of state.
Why do I need it? If your business name is not registered with the state YOU as an individual are liable for debts, lawsuits, and judgements against your business.
2. Ownership Agreement for Specific Entity:
What is it? This will dictate the duties, responsibilities, equity, and how the business is run between owners.
Why do I need it? Not having a proper ownership agreement can lead to costly court battles between owners regarding equity, assets, liabilities, and company debt. Does your company have investors? Call for a free consultation to see how your investors may play a role in the ownership agreement.
3. Buy/Sell Agreement:
What is it? This will dictate how and when an owner sells or transfers their equity/shares and to whom.
Why I need it? Not having a buy/sell agreement for your company can leave owners battling through pricey litigation over the sale or transfer of business equity. An example of a sour situation is one owner leaving the company and selling his/her equity to a stranger.
4. Contract Review, Drafting, and Negotiation:
What is it? Contracts dictate how, when, where, and to whom you and your business will sell its product or service.
Why I need it? Without contracts your company is risking not getting paid, someone not performing their duties, or performing work you did not agree upon. This can cost your business thousands or maybe millions of dollars.
5. Contract Management:
What is it? Contract management provides an easy to understand document of all the contracts your company is impacted by or a party to.
Why I need it? Contract management saves your company time and money from reviewing each contract for details, missing deadlines, and landing in court for not fulfilling your obligations.
Every business is different, check out the full suite of business law services here
Servicing the Los Angeles Metropolitan area and Greater California
458 N. Doheny Dr #69712 West Hollywood, CA 90048
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