Should I Form an LLC

The Limited Liability Company, or LLC, is a popular legal structure among the small business owners who incorporate. The exact requirements differ from one place to the other; however, when setting up an LLC, seek the help of a small business lawyer who can make the process simple. In fact, incorporaton [of an LLC] can be carried out in an hour or so depending upon the complications of your organizational structure. So if you ask me a question like how to start a LLC in California or any other state, then better check out the following important steps required to form it at your place: First, you might want to reserve your new company name. The Secretary of State has a roster of names already in use, and you can check your desired name against this list. If your name is available, you may reserve that name for a small fee. Select a name for your business as per your respective states rules for LLC business name. Though the rule pertaining to name is pretty flexible, however, every state has a list of some prohibited names like Corporation, Insurance, Incorporated, City and others which you are supposed to avoid. The Articles of Organization is the initial filing form. In Califonria, you do not need to post a notice in any local newspaper, unless you are filing for a DBA. You will need to tell your attorney things like name, principal office, business purpose, the registered agent address to get the legal documents. Once your attorney knows the details, he can submit your Articles of Organization form with a filing fee. Wait! You are not done. There is one very vital thing missing: the LLC Operating Agreement, although these are not required at the time of legal filing. This can be carried out in the later stage once you finish with your legal filings. The Opertating Agreement is the rules and regulations pertaining to the day to day operations of your LLC, much like the bylaws of a corporation. Your Operating Agreement deals with management and financial responsibilities and rights of the LLC members; for instance, who would contribute in case the LLC requires additional capital, when and how the business profits would be divided among the members and the terms and conditions for members to leave the LLC and so on? Even when you have members from your friends and family, make sure you answer these properly to avoid any dispute in future. Finally, your attorney will conduct an initial organizational meeting where the members (owners) of the LLC will gather and execute the incorporating documents, including the Certificates of Membership. Should you be searching for a lawyer in orange county, visit http://www.huntingtonbeachtrialattorney.net