Blog & Announcements
What is a single member disregarded LLC?
ADVERTISING By: Tamara B. Pow, Esq. If an LLC has two or more members, it is treated as a partnership for tax purposes unless it elects to be treated as a corporation. However, an LLC with only one member cannot be a partnership, so it will be treated as a...
Standby Letters of Credit – What are They and What Should They Contain?
By: Serge Filatov, Esq. Standby letters of credit are irrevocable agreements for the payment of money. They function like guarantees of obligations and are usually provided by a bank for the benefit of a beneficiary. Standby letters of credit are governed by...
Commercial Real Property Purchase and Sale Agreement – A Buyer’s Perspective
By: Tamara B. Pow, Esq. The purchase and sale agreement (the “PSA”) is the central document for the sale of commercial real property and one of the most important. The terms of the agreement are negotiated between buyer and seller often after a letter of intent...
How is an LLC formed?
By: Tamara B. Pow, Esq. A California limited liability company (LLC) is formed by filing Articles of Organization (also known as Form LLC-1) with the California Secretary of State. A foreign business entity files a similar form (Form LLC-5) to register to do business...
If I form an LLC, do I still need insurance? And if I have insurance, why do I need an LLC?
By: Tamara B. Pow, Esq. Whether or not you form an LLC (limited liability company), insurance is always the first line of defense. Although an LLC may protect your personal assets from liabilities of the business (subject to some exceptions – see my earlier blog on...
If I form an LLC, will my personal assets be protected from liabilities?
By: Tamara B. Pow, Esq. The next blog in my series on FAQs for LLCs focuses on personal assets. If you form an LLC, are your personal assets protected from liabilities? Simply because you form an LLC (limited liability company) does not mean your personal assets are...
Now that I have an LLC, what formalities are required to maintain it?
By: Tamara B. Pow, Esq. As discussed in my last blog, many business owners are looking at forming LLCs as a result of the new tax act. In addition to any potential tax breaks, there are some other advantages to forming a limited liability company instead of a...
Which types of businesses can be LLCs?
By: Tamara B. Pow, Esq. Just when I thought everything that could be said had been said about limited liability companies, the 2017 Tax Cuts and Jobs Act (“Tax Act”) was enacted and has resulted in a huge increase in meeting requests from business owners and real...
Security Interests in Collateral – Don’t Look Back! (A Lender is Prevented From Scooping Up Collateral Granted in an Earlier Agreement)
By: Jack Easterbrook, Esq. Loan documents used by institutional lenders always have a description of collateral in a secured loan transaction. But what happens when a lender tries to use an “old” security agreement, initially agreed upon and signed in connection with...
Serge Filatov Named A 2018 Northern California Rising Star
Congratulations to our own Serge Filatov for being chosen as a Super Lawyers 2018 Northern California Rising Star. The full press release can be seen here.
Buyer’s Due Diligence When Buying Real Property
By: Tamara B. Pow, Esq. Buyer’s due diligence is the process of inspecting all aspects of a property to determine whether or not buyer wants to purchase it. This could start before a purchase agreement is signed, but usually occurs during the period of time provided...
Supporting the 2018 Fight Stroke Walk
We had a great time supporting stroke awareness at the 2018 Fight Stroke Walk !
The Buyer’s Checklist to Buying Commercial Real Estate in California
By : Tamara B. Pow, Esq. Although each of these topics can be expanded on extensively, this is a good overview of the steps you should consider as a buyer of commercial real property in California. Your broker should help you obtain needed items and a real estate...
The Brokerage Agreement – What To Look Out For?
By: Tamara B. Pow, Esq . When buying a commercial real estate property, the brokerage agreement is the agreement between you (the buyer) and your broker. For the buyer, it is in your best interest to get this agreement in writing, and have it reviewed by a real estate...
Negative Covenants in Loan Agreements – Think Through What You Really Want To Add
By: Serge Filatov, Esq. When documenting a loan, lenders often have to determine which negative covenants they want to add to their loan agreement. Before determining which negative covenants to add, it is important to understand the purpose of negative covenants....
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