Los Angeles Contract Lawyers
Legal Tips and Information
Los Angeles Contract Lawyers
Outsourcing legal needs is often a more economical choice for startups than bringing a lawyer on staff full time. The early life of an emerging company is full of surprises, and decisions often must be made quickly. Having the freedom and flexibility to hire a contract attorney with a specialty that matches the situation is a definite advantage.
A contract attorney in Los Angeles assists local businesses of any size with essential day-to-day operations. Whether a start-up company is facing challenges as they grow or an established business is revising current contracts and negotiating new agreements, Los Angeles contract lawyers help meet the demands of tricky legal situations while protecting their clients.
The best contract attorneys can advise their clients regarding distribution agreements, sales representative agreements, franchise agreements, vendor agreements, and license agreements. They may also provide services in intellectual property transactions, technology services, contract review, business litigation, forming LLCs, and privacy law.
Finding the right Los Angeles contract attorney is important when growing and protecting a company. Ensuring that contracts are enforceable, interpreting boilerplate provisions, and avoiding common contract development mistakes are just a few services these professionals provide to businesses in LA.
How New Businesses in LA Build Expert Yet Flexible Teams
One of the main reasons businesses hire contract attorneys is so they can receive advice from an experienced expert for a short amount of time. This gives owners the ability to assemble teams quickly that are highly effective. Smart business owners understand that having a LA contract lawyer when they need them is the key to being able to react quickly in tough situations.
With a team of contract attorneys with different specialties, a business can handle problems as they arise without having to manage the giant cost of hiring full-time counsel. Being able to connect with the best LA contract attorneys helps small companies avoid disaster.
The life of a startup founder is constantly changing, and even famous startup founders have some big mistakes under their belts.
Mark Zuckerberg, founder of Facebook, could have used the advice of an experienced contract lawyer the day he decided to found Facebook as a Florida LLC. A Delaware C-Corp would have been a better choice. The reason he went on to become such a giant success is that he was very good at one thing. That one thing wasn’t managing the tedious details of a startup, but he quickly realized that it’s easy to hire a team of flexible experts to get that part of the job done well.
Other common mistakes startups make early in their lives could make or break the future of the company, as well.
Founder Equity Splits
The roles, relationships, and responsibilities assigned to founders early in the life of the startup, even when made carefully and correctly, may not be as effective even a few months in. The ability and willingness to remain flexible in this area could mean great success for a new company. Consulting a contract lawyer in LA with expertise in helping startups determine the best founder equity splits is a great tactic to add some impartial wisdom to the decision making process.
Company Office Location
Startups often take any office space they can find early in the game. As they change, grow, add team members, and define their purpose, their location may need to change. Choosing a new location can be an expensive proposition. Finding a contract attorney in Los Angeles with expertise in the area of real estate could save a lot of money and headaches for the founders.
Choosing to Launch Slowly
Startups who choose to delay their launch and “go slow” risk wasting time, as they are in the dark about whether their product or service will survive and thrive in the market. At some point, it’s time to jump off the cliff. The best LA startup lawyers can help make the process a bit less frightening. Startup founders who are dragging their feet or experiencing a fear of failure that is holding their company back can lean on a great lawyer who has walked other founders through the launch process successfully.
Not Having Enough Money
A lack of funding is one of the biggest problems startup companies face. While there are plenty of investor groups in the Los Angeles and Orange County area, getting connected to them may prove challenging. There are also a lot of great startups in the area, so the competition is fierce. A contract lawyer with high-quality contacts in the world of startup investing is worth every penny founders spend to hire them.
Not Putting Users First
One of the many things that Mark Zuckerberg did right in the early days, and that his company continues to do right, is putting their users first. If the wants and needs of founders and investors directly contradict the wants and needs of users, trouble is brewing. An LA contract lawyer can help detangle the situation and bring things back into focus. Without users, there is no company, so making them happy should always be the number one priority.
Choosing a Platform That Doesn’t Work with the Product
Scaling the business quickly will ultimately determine its success. If the chosen platform doesn’t seem to be serving that purpose, it may be time to move on. Let a contract lawyer in Los Angeles that has helped other founders with similar problems be of assistance. Scalability presents a bottleneck when the platform isn’t working. Users who love the product or service may be loyal, but they are also by nature impatient. Competitors are ready to pounce, so fixing the problem right away could mean the difference between success and failure for the company.
LA Offers Many Resources to Startup Founders
Los Angeles is well-known for its ideal climate, sparkling entertainment industry, and world-class startup scene. People move to LA to improve their social lives, work on their tans, and perhaps even to fulfill a life-long dream of living in the land where dreams come true.
LA is the entertainment capital of the world. With summer heat that barely breaks 80 degrees Fahrenheit and winter cold that rarely sinks below 55 degrees Fahrenheit, Los Angeles is conveniently located in a part of the world where residents live happily without the need for a winter coat or the constant relief of air-conditioning.
Founders of emerging businesses choose LA for its rich resources. The startup scene in the area is one of the busiest, richest, and most successful in the world. Contract lawyers in LA make their living and their reputation on helping startups succeed, so it’s easy to find high-quality candidates for any business needs that arise.
Startup Events in LA
Events like Los Angeles Startup Weekend offer a 54-hour window of time for designers, product managers, startup enthusiasts, and developers to network, form cohesive teams, launch startups, build products, and share ideas. LA County Technology Week offers the chance for technology founders and entrepreneurs from all over Southern California to meet. The StartupDigest Los Angeles Event Calendar keeps track of all the startup events in Orange County, Santa Barbara, County, Ventura County, and Los Angeles.
Organizations That Help Startups in LA
Organizations that help startups succeed are plentiful in LA. Launchpad LA is a mentorship organization and accelerator that helps young business owners take their companies into the realm of success. Experienced CEOs and venture capitalists in Southern California give their time and resources to help support new businesses.
LA CEOs connects entrepreneurs, founders, board members, and CEOs so they can help startups reach their goals faster. The Los Angeles Venture Association helps to create an environment that provides access to technological, financial, and professional resources to middle market and emerging companies in the Southern California area.
Business Incubators in the Los Angeles Area
Incubators like LA Cleantech Incubator offer flexible office space, access to a network of capital and experts, and CEO coaching and mentoring services to clean tech startups to help them accelerate their development.
The Business Technology Center of Los Angeles County offers technical assistance, coordination of financial resources and business management assistance to high tech firms throughout their development. They are especially pleased to help businesses who commercialize and transfer technologies from Universities and Federal Laboratories.
MuckerLab offers between $21k and $150k to emerging businesses they choose to work with in the form of marketing, fundraising, and mentor support. Their 12-week program is available through an application process.
Investor Groups in Southern California
Investor groups in LA that focus on supporting startups include the Keiretsu Forum’s LA Chapter, which is the world’s largest group of investors. The Tech Coast Angels is an investor group represented by more than 300 members from nearly every industry.
Los Angeles contract lawyers add value for startups by giving them the best possible advice that is specific to their situation on any day. A great LA startup attorney will help connect a promising startup to investors when the time is right. Emerging businesses know that having someone who can make those valuable connections is critical to their long-term success.
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Legal Services Offered by Our On-Demand Los Angeles Contract Attorneys
The Los Angeles contract attorneys & lawyers on UpCounsel are dedicated to helping businesses save time, money, and peace of mind with contract drafting and review, negotiations, litigation support, discovery, commercial business transactions, and more.
Our independent contract attorneys are available on-demand to provide contract legal services for businesses or to support your in-house general counsel to help lighten the load for transactional matters or litigation support.
Although the work of the Los Angeles contract attorneys found on UpCounsel often varies. They are highly experienced in legal contract activities such as commercial contract negotiations, document review in response to document subpoenas, request for production of documents, legal research, draft legal briefs, along with providing a full range of other contract legal services to businesses of any size.
Improve Your Legal ROI with Affordable Contract Attorneys that service Los Angeles, CA.
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- 6 min read
Private Placement Memorandum: What is it?
A private placement memorandum (PPM), also commonly known as an offering memorandum or offering document, is a vitally important legal document that discloses the objectives, risks and terms of a proposed investment in your company. Your PPM will be distributed to potential investors whenever your company sells stock or another type of security in a private placement.
Your PPM will provide important facts and figures about your company and its business that are useful to potential investors, including:
Your company’s industry;
Descriptions of the products you sell and/or services you provide;
Product and economic projections;
Company financial statements;
- 2 min read
Learn more about the types of Corporations below:
A corporation is an independent legal entity distinct from its owners. The law views a corporation as a distinct legal person that can enter into contracts, incur debt, and pay taxes apart from its owners. The owners of a corporation also have the benefit of having limited liability.
When most people refer to a corporation, they actually mean a “C Corporation,” but you
- 3 min read
Form 8832: What Is It?
Why Is Form 8832 Important?
No business wants to pay too much in taxes.
Business entities are given a default tax classification (i.e. a multi-member LLC is taxed as a partnership unless it changes its tax status). Sometimes businesses can pay thousands of dollars less, just by changing how the business is taxed!
Reasons to Consider Not Using Form 8832:
- 8 min read
What is a Portfolio Company?
A portfolio company is a term used to describe a company in which investors own equity in a company or buy out a company. The goal of the investor is to increase the value of the portfolio company and earn a return on their initial investment.
The investment could be in the form of private equity in established companies or venture capital in companies just starting out. One portfolio company usually forms part of a group of companies in the investor's full portfolio.
Who Invests in Portfolio Companies?
Portfolio companies are used by venture capital firms, private equity firms, and other financial investment firms. Some firms build a portfolio of companies that specialize in a specific sector, such as science or engineering. Others have a diverse mix of portfolios.
- 4 min read
What are Stock Appreciation Rights?
Stock appreciation rights are a type of incentive plan based on your stock's value. Employees receive a bonus in cash or equivalent number of shares based on how much the stock value increases over a set period of time - usually from the date of granting the right up until the right is exercised. People familiar with phantom stock will recognize the basic similarities between the two. It is important to note that unlike stock options, employees also do not have to pay the exercise price to receive the bonus in stock or cash.
Holding stock appreciation rights is not the same as holding shares of stock. Employees do not receive a share of equity when you award appreciation rights.