It can’t be recommended enough. While it is legal to start a business without one, an  experienced Los Angeles Business lawyer can be an incredibly valuable asset. An attorney can help determine which type of business entity is the most suitable, help draft contracts and articles of incorporation, help obtain necessary permits and licenses, and more. Just the benefit of having someone there to respond when questions or issues come up out of the blue cannot be understated. An experienced business attorney in Las Angeles, California is one of the best investments a business owner can make.

If you are facing a business dispute, you should consult with a skilled Los Angeles business lawyer before taking legal action. Mediation and arbitration are alternative dispute resolution methods that can help a business settle a dispute without litigation. In mediation, a neutral third party or mediator helps the opposing parties come to a mutual agreement. Mediation is often favored because it is cost-effective and quick.

Arbitration is similar to mediation in that a neutral third party (or arbitrator) is brought in to resolve the dispute. However, arbitration is more formal than mediation and the decision of the arbitrator is final.

In short, taxes. The majority of large, publicly held corporations are C corporations. Some corporations are eligible to file an election (Form 2553) that will let the corporation be taxed under rules that are more like that of an LLC. Corporations that use this type of taxation are S corporations. Only certain corporations meet the tax requirements to become S corporations. If C corporations pay their shareholders dividends, the corporation will face double taxation. A C corporation will pay taxes on its profits before paying out its dividends to the shareholders, and the shareholders will then have to pay taxes when filing their individual tax returns. S corporations are not subject to double taxation as long as the requirements are met, and the shareholders are protected from corporate debts.

Joint ventures and partnerships share certain characteristics. A joint venture is a sort of partnership where two or more entities join together for a particular “short term” purpose. In both partnerships and joint ventures, each partner has equal ability to legally bind the entire entity. A partner can represent the entire organization in the normal course of business and his or her legal actions on behalf of the joint venture or partnership create legal obligations.

Although the powers of individual partners in a partnership or joint venture can be limited by agreement, such agreements do not bind third parties. Because business contacts outside of the partnership may have no knowledge of the limitations, they may be entitled to rely on the apparent authority of an individual partner as determined by the usual course of dealing or customs in the trade.

If you're planning to buy real estate in California, it's essential to know the distinctions between commercial and residential properties. Commercial real estate is for businesses while residential real estate is for living. However, commercial properties are more stable and sell more effortlessly than residential properties. Moreover, commercial properties are more costly compared to residential ones due to the high demand for space that can be leased or sold.