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Jan 102012
etting started with your own business, even if it is just a buy and sell small business, is not as easy as simply financing for it and selling. A business requires that you invest money in it and make it grow. The money you invest is rarely so small a sum that, if lost, you can easily get over. Rather, it is usually a significantly large amount of money. Because of this, there is also a need for you to protect the security of your business. The way to do it is to hire a business law attorney who will be able to help you get started and assist throughout your business’ life.
In getting started, a business law attorney will be able to help you secure business permits and other legal documents to make your business fully operational without the fear of having to close down because of any possible violation. They will be able to educate you and your business partners about the different laws you need to know and how to oblige by them. A business law attorney will help you deal with your clients, customers and business partners in a secure way. They will help you with the different contracts involved and educate you on the different taxes you need to comply with and other fees. They will also educate you on Uniform Commercial Code, Competition Law, Financial Regulation and everything else you need to know. Moreover, they can help you create an effective and secure contract between you and your employees so that you are guaranteed they will not turn against you and your business. They will help you secure the satisfaction of your employees and yours as well.
On January 1, 2012, California became the first state in the country to authorize a Flexible Purpose Corporation. This entity form is similar to that of a benefit corporation, but with a few distinctions.
Basics
Jan 032012
B Corporation
“B” stands for “benefit,” as in “public benefit.” B Corps may harness the power of business to pursue either general or specific public interest purposes, as well as profit.
General public benefit is defined as a “material positive impact on society and the environment, taken as a whole, as assessed against a third-party standard.” Third-party standard is basically an evaluator with no financial interest in the B Corps it evaluates. Enumerated specific public benefits are, without limitation, providing low-income or underserved individuals or communities with beneficial products or services, promoting economic opportunity for individuals or communities beyond the creation of jobs in the ordinary course of business, preserving the environment, and improving human health.”
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