Should you form a corporation or LLC immediately when starting a business? This week, our very own Peter Bronstein is discussing how to set up a business correctly, and the impacts that could happen if you don’t. He describes what companies need to know when it comes to written and verbal contracts, and how to best protect yourself. Peter dives into why a business may not create a separate entity and what they are risking. These details apply specifically to California, but are likely similar in other states. Tune in to learn more about the legal side of owning a business. 

IN THIS EPISODE:

• [7:56] What do businesses need to know about verbal contracts?
• [14:50] What should a business know about a written contract?
• [18:23] Why should you create an entity? 
• [24:06] Why would you choose not to create an entity? 
• [27:43] What does it look like to register a trademark? 
• [32:36] How are businesses and owners impacted by taxes?

KEY TAKEAWAYS:

• Your personal assets are protected if you create a corporation or an LLC for your business
• There are two different types of contracts, verbal and written. Both are valid contracts and are upheld in court if necessary
• When it comes to a trademark, if it isn’t registered, then it defaults to the person who has been using it the longest

LINKS MENTIONED:

LA Corporate Attorney Website

Ask Brien Radio Show

BIO

By focusing solely on legal issues affecting businesses, with an accounting degree with his JD, lawyer Peter Bronstein is able to offer informed counsel, detailed planning, clear communication and aggressive representation during negotiations and litigation.

Before creating our law firm, attorney Peter Bronstein spent five years as corporate counsel for Mail Boxes Etc., a major franchisor with national and international locations. He has experience in the inner workings of a business and the challenges that accompany business ownership in California.