What do you need to know about starting a company in San Diego? It is important to seek the advice of experienced San Diego business formation attorneys at the Watkins Firm who have more than four decades of experience helping businesses to start and grow here in San Diego.
This is your new company. You are going to pour all of your time, effort, experience, money and life into forming and building this business. We understand the nature of a business start-up in San Diego and how important it is to preserve start-up capital. Many entrepreneurs do not understand the need to pay an attorney during a phase when start-up funds are always tight. We aren’t going to empty your bank account. We are going to help you set up a company that can legally transact business here in California while protecting you, your spouse (if any) and all of your personal assets.
The most important things to understand when starting a company in San Diego is the nature of the corporate entity (why you have a business entity in the first place) as well as the importance of the clauses that must be included in your corporate documents such as an LLC operating agreement or shareholders’ agreement.
The purpose for a business entity is to legally and financially separate you, personally, from the “person” California law recognizes to be a business entity. Creating a separate entity limits your personal exposure (and that of your spouse) from liabilities arising from the operations and resulting liabilities of your business. Creditors will not be able to pursue your personal accounts, home equity, or any assets you own if your business is properly formed and operated. Learn about the importance of corporate governance and compliance as well as avoiding the commingling of funds and assets and how to protect the corporate veil, as well as yourself and any partners you may have at the outset.
We take clients through an extensive conversation covering more than a hundred different clauses and voting (control) structures within the corporate documents and bylaws. We help you to develop an operating agreement or shareholders agreement that protects your business from unforeseen challenges or life experiences down the road. How will voting rights be distributed? How will the balance of voting rights be protected? What happens if a member or shareholder goes through a divorce, bankruptcy, incapacitation or loss of life? How will their share in the company be calculated and how will you protect the company from outside ownership interests (such as the ex-wife of a partner)?
Corporate law here in California is quite complex. It is not practical or realistic to download forms from some “legal” site or copy them off of the internet and attempt to modify them yourself. The Watkins Firm has more than 40 years of experience serving the business, science and tech, real estate and medical / healthcare communities here in San Diego and across California.
We understand “start up budgets” and the need to provide valuable advice and counsel while preserving most of the budget for operations. You’re going to need an experienced business attorney throughout the life of your new company.
We invite you to review our podcast Episode 34 – Business formation as well as the strong recommendations of our clients and contact the Watkins Firm or call 858-535-1511 for a complimentary consultation today. A business start-up in San Diego requires important focus, attention and guidance. Draw on the extensive real-life perspective of the experienced business attorneys at the Watkins Firm.
