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October 2014 Archives

What is a "professional corporation" and what makes it unique?

A "professional corporation" is a corporate form that may render its professional services through licensed individuals in a particular profession. See Corp. Code § 13405(a). In California, professional corporations may only be formed to render services in the fields of law, medicine, dentistry, and accountancy. Thus, professional corporations are also subject to the regulation of the state agency that provides oversight over those professions. For example, a professional corporation formed for the special purpose of practicing dentistry would be subject to the regulation of the Dental Board of California. Similarly, a law corporation, as they are sometimes referred to, would be subject to the regulation of the State Bar of California.

Retail Leasing During the Holiday Season

Commercial retail tenants generally look forward to the holiday season. While there are a number of operational and retail issues that need to be addressed, commercial tenants also need to understand their rights and obligations under their commercial real estate lease.

Do You Know When Your Commercial Lease Begins?

It may seem like such a simple question, but commercial tenants and landlords often do not know the specific date that a lease will commence. Many commercial real estate leases, whether for an office, retail or industrial space, have several conditions that must be satisfied prior to the term of the lease commencing. When those conditions do not have a time period associated with them, there may be no hard date for the term to start.

Choice of Business Entity Blog Series, Part 3: Legal Requirements

In the third and final installment of our three-part blog series on choice of business entity, we will examine how the different legal requirements of the business entity may affect your operations going forward.

Choice of Business Entity Blog Series, Part 2: Financial and Operational Risks

Today, in part two of our three-part blog series, we are going to look at how certain financial and operational risks associated with the nature of your business should be taken into account prior to selecting an entity type. Like most decisions made by entrepreneurs, the financial and operational risks will play into which organizational structure is most appropriate for the business entity. 

Choice of Business Entity Blog Series, Part 1: Management Structure

This week we are excited to announce a three-part blog series on one of the toughest decisions when starting a business - which organizational structure to choose! Specifically, we are going to hone in on three general considerations that every business owner needs to think about prior to selecting the organizational structure of their entity. Today, we are going to focus on the management structure of the business.

What is "Funding the Trust" and Why is it Important?

After an individual's death, assets titled in the decedent's (the deceased individual) name must go through probate (a process in which the court supervises the distribution of the deceased's assets). By properly forming and "funding" your revocable trust, formal probate proceedings can potentially be avoided.

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The Loftin Firm, P.C.

The Loftin Firm, P.C.
5760 Fleet Street
Suite 110
Carlsbad, California 92008-4713

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