Corporation Establishment in Los Angeles
A corporation is defined as a legal entity that has a separate legal personality from its owners or members. And because of this nature, it receives legal rights and duties. This applies to all corporations in the State of California and its cities and counties including Los Angeles. Some of the legal rights that always apply for a corporation are the following:
- The ability for a corporation to file a lawsuit and be sued as well;
- The right to hold assets that is separate from the member’s assets;
- The right to hire people to work for them;
- The right to undergo contractual agreements with other parties; and
- The right to draft and adopt by-laws that would govern their internal affairs.
As it is, corporation establishment nowadays typically involve some modern principles. The modern type of corporation establishment gives additional aspects, such as:
- Allowing other members to change, withdraw, or transfer their membership without affecting the corporation’s existence;
- Continuing to exist even if any of its members withdraw its membership; and
- Limited liability of the members for the corporation’s debits.
The main requirement for establishing a corporation is registering its existence with the state or federal government. In this regard, a legal representative, particularly a lawyer adept in corporate/business law, is needed to oversee the whole legal process as part of the corporation’s registration. The said lawyer also files the articles of incorporation where the corporation’s nature and its directors are identified. The articles of incorporation likewise include the bylaws that regulate the internal affairs, such as finances, processes, officer positions, and other activities of the corporation.
Establishing a corporation can be very stressful due to the fact that it involves a lot of paperwork processing as required by the law. As it is, drafting the bylaws of the corporation could puzzle a lot of members (sometimes called stake- or shareholders) and there may be rules that may possibly violate other legal rights of the members.
For a hassle-free corporation establishment in Los Angeles, getting legal advice and guidance from business lawyers is a must. Our experienced corporate/business lawyers have a deep understanding of corporation establishment and have been helping people save time and effort in creating their own articles of incorporation in accordance with all applicable laws.
Call the Business Corporate Attorney at (888) 833-2528 or send an email to email@example.com today, and our business lawyers will help you right away.