Best Landlord & Tenant Attorneys in Los Angeles, CA

Essential Legal Tips for Small Business Owners Many small business owners run what is known as a "lifestyle" organization, where they take advantage of their experience or expertise to run a thriving operation. Yet, it is important to protect such a business and make sure that it can run without issue from a legal point of view, and many owners don't take enough care here. As it is always better to be safe rather than sorry, it's time to take a closer look at your business now and consider some of these essential legal tips. Make Sure You Have Chosen the Right Business Entity Some people may initially set up in business as a sole proprietor or in partnership with somebody else. As time goes on, it may be a good idea to form a different business entity, such as a corporation or limited liability company. Each entity has specific requirements in terms of tax and reporting, but it's crucial to ensure that the chosen entity protects the owner when needed. For example, with a sole proprietorship, the owner's personal assets can be seized to satisfy liabilities in the event of a dispute. Protect All Your Intellectual Property (IP) As all your hard work in business begins to bear fruit, you should protect the intellectual property you've developed along the way.