What are the different business structures and which one is right for me?
In California, there are four major classes of business structures. These are the partnership, the limited liability company (LLC), the corporation (both S and C Corporations), and the sole proprietorship. While California recognizes a wide variety of business entities, most businesses will fall into one of the aforementioned four categories. When weighing the pros and cons to determine which organizational structure is right for your business, it is useful to understand how each type differs in terms of personal liability protection and tax implications. A business and corporate law attorney can help you better understand each option so you can make an informed decision on which business structure best suits your needs.
What is the difference between a non-competition covenant and a non-disclosure agreement (NDA)?
A non-disclosure agreement (NDA) is a contractual agreement between two parties that is frequently used in the corporate world to protect a company's confidential information, business secrets, trade secrets, and other sensitive data. NDAs will often include restrictions on both disclosure and use of confidential business information. In contrast, non-compete covenants restrict parties or businesses from competing for the same business audience or target demographic. Non-compete covenants will typically include language that bars a party from competing within a certain geographical area for a certain period of time. Companies often hire attorneys to draft non-disclosure agreements due to legal limitations and the need for extremely careful wording.
Does California allow a covenant not to compete for businesses?
In California, non-compete agreements and non-compete clauses in employment contracts are not enforceable. In fact, employers can be held liable for firing or refusing to hire an employee based on their refusal to sign a non-compete. However, companies can still protect their trade secrets and other sensitive company information through the execution of a non-disclosure agreement (NDA).
What is the difference between a non-profit organization and a for-profit company?
Non-profits enjoy certain benefits not available to for-profit companies including federal tax-exemption status and the ability to obtain both private and public grants. In California, non-profits are allowed to earn a profit and are permitted to sell products and services. However, profitable gain cannot be their sole purpose, as required by law. You can speak with a business attorney to determine whether your venture would qualify as a non-profit in California.
Are there any reputable business & corporate lawyers near me?
Finding a reputable lawyer to handle your case is important. There are many top-rated, highly-referred attorneys in your area who practice business & corporate law. It's important to do your due diligence in order to find an attorney whom you are comfortable with and can best serve your needs. In your search for the right attorney, seek out counsel who have experience handling cases similar to yours.
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