Top Rated Business & Corporate Attorney in West Hollywood, CA

Bar/Professional Activity

• Member of ProVisors
• Former Executive Board Member of Cannabis Law Section of the Beverly Hills Bar Association
• State Bar of California Business Law and Litigation Sections
• Beverly Hills Bar Association, Cannabis Law, Business Law, and Family Law Section
• Member of the Partnership and Limited Liability Companies subcommittee of the California Lawyer's Association Business Law Section, 2020
• Member of Sports & Entertainment Society, 2021
• Former Member of the Consumer Attorney Association of Los Angeles, 2020
• Member of the Beverly Hills Business Law section, 2021

Pro bono/Community Service

• Volunteer, San Diego County Corporation Counsel
• Former volunteer at the San Diego Volunteer Lawyers Program

Educational Background

• Central Michigan University, B.S., Major in Political Science and a double minor in economics and legal studies, cum laude, 2009

Honors/Awards

• I was nominated by clients and the community as Lawyer of the Year, Owner, California Cannabis Awards, 2019
• Won “Top Contributor Award” on Avvo

Videos

• With the coronavirus hitting the US economy hard last week, it is time to discuss how business contracts are impacted, or infected by this dangerous virus. Many US based businesses have manufacturing contracts or facilities in China, our clients included. Along with manufacturing, business may be constructing new facilities in China or have large shipments from China coming to the US. How are all of these sectors impacted? Well, most are similarly impacted by a reduced workforce, reduced supplies, or maybe a quarantine. Check this video out to learn more about contracts being infected, what you should do as a business owner, and what parts of a contract to review. Visit www.ejplawoffice.com to reserve your FREE, 30 minute phone consultation today. All information is for educational purposes only and does NOT constitute legal advice. ATTORNEY ADVERTISING. www.ejplawoffice.com (213) 784-3640 , Coronavirus and Contracts: Is Your Business Infected?, Business, LLC, Partnerships, LLPs, Corporations, Closely Held Businesses, 2020
• President Trump has extended the COVID-19 guidelines another 30 days. Wondering how your business will survive? Well, our office has read the CARES Act aka/stimulus package to help you and your business along the way. In this video we address some of the most Frequently Asked Questions we have received from business owners regarding the CARES Act, more specifically the paycheck protection program. Visit www.ejplawoffice.com to reserve your FREE, 30 minute phone consultation today. All information is for educational purposes only and does NOT constitute legal advice. ATTORNEY ADVERTISING. www.ejplawoffice.com (213) 784-3640 , Stimulus Package: Paycheck Protection Program FAQs, Business, LLC, Partnerships, LLPs, Corporations, Closely Held Businesses, 2020
• This video will show you how to file your LLC in California. Please make sure to read the entire Form LLC-1, speak with your advisor, and make sure your business can be an LLC. Remember, there is more that goes into properly forming an LLC than this form. If you want to receive all the benefits of an LLC, the formation must be done properly. Please speak with your business attorney or call our office to discuss forming your LLC. Visit www.ejplawoffice.com to reserve your FREE, 30 minute phone consultation today. All information is for educational purposes only and does NOT constitute legal advice. ATTORNEY ADVERTISING. www.ejplawoffice.com (213) 784-3640 , How To File an LLC in California, Business, LLC, Partnerships, LLPs, Corporations, Closely Held Businesses, 2020
• Limited Liability Companies, LLCs, first became available in the United States in Wyoming in 1977. Most states did not follow allowing Limited Liability Companies, LLCs, until the 1990s. In the past 10-15 years Limited Liability Companies, LLCs, became very popular in California. Limited Liability Companies, LLCs, are governed by the California Corporations Code in the California Revised Uniform Limited Liability Company Act (“LLC Act”). When forming and operating a Limited Liability Company, LLC, it is imperative that you or your counsel abide by the LLC Act. The Law Office of Eric J. Proos, P.C. has read the act word-for-word, advises LLC clients daily, and has formed hundreds of Limited Liability Companies, LLCs. Call Eric Proos, Los Angeles Business Attorney, today to discuss Limited Liability Companies, LLCs. General Characteristics of Limited Liability Companies, LLCs Limited Liability Companies, LLC, are very popular for a number of reasons. First, Limited Liability Companies, LLC, are easier to form and less formal than corporations. Second, Limited Liability Companies, LLC, provide protection from personal liability. Third, Limited Liability Companies, LLC, can provide some tax benefits compared to corporations. Limited Liability Company, LLC, filing: Filing for an LLC is quite simple and involves two main forms that must be filed with the state. The first is Form-LLC 1. (Watch this video to learn how to complete Form-LLC 1). This form constitutes the Articles of Organization. Check out this video to learn more about Articles of Organization. The second form that must be filed within 90 days of filing Form-LLC 1 is the Statement of Information. The price to file Form-LLC 1 with the State of California is $75 dollars. You must also be prepared to pay an $800 yearly tax for your Limited Liability Company, LLC. Along with filing the paperwork with the state Limited Liability Companies, LLCs, should have an operating agreement and buy/sell agreement, discussed here (LINK TO ARTICLE ON OPERATING AGREEMENT AND BUY/SELL AGREEMENT). Limited Liability Companies, LLCs, offer personal liability protection: Limited Liability Companies, LLCs, offer the members of the LLC personal liability protection. This protects the members from legal and financial liability. The LLC does not offer unlimited protection. Be aware that a member can become personally liable for actions. Taxes and LLCs: As discussed previously there is a yearly, minimum Limited Liability Company, LLC, tax of $800 that must be paid. Any income the Limited Liability Company, LLC, earns is treated as pass through income, and the owners are burdened with paying taxes. However, a Limited Liability Company, LLC, can elect to be taxed as a corporation. In which case the Limited Liability Company, LLC, then must file a tax return as a corporation, speak with your CPA. Forming and operating a Limited Liability Company, LLC, within the LLC Act can be complicated. The Law Office of Eric J. Proos, P.C., forms your LLC with care, detail, and catered to your business. We do not provide a boilerplate operating agreement for your LLC, we cater it to your business, industry, and desires. Visit www.ejplawoffice.com to reserve your FREE, 30 minute phone consultation today. All information is for educational purposes only and does NOT constitute legal advice. ATTORNEY ADVERTISING. www.ejplawoffice.com (213) 784-3640 , Limited Liability Companies, LLC, Businesses, Corporations, Closely Held Businesses, 2020
• Have you applied for a SBA Section 7(a) or Paycheck Protection Program loan and are wondering if your loan qualifies for forgiveness? Watch this full video regarding our most Frequently Asked Questions as it relates to the stimulus package. We will cover if you qualify, how much of the loan can be forgiven, and what you should get together for an application, among other things. Find out if you qualify for a SBA 7(a) loan here https://www.sba7a.loans/eligibility-and-qualifications-for-the-sba-7a-loan Visit www.ejplawoffice.com to reserve your FREE, 30 minute phone consultation today. All information is for educational purposes only and does NOT constitute legal advice. ATTORNEY ADVERTISING. www.ejplawoffice.com (213) 784-3640 , SBA Loan Forgiveness, Business, LLC, Partnerships, LLPs, Corporations, Closely Held Businesses, 2020
• With the small business economy changing minute by minute, let's take a second to speak with John F. Price, human resources and employee benefits consultant with Lockton Companies in Detroit, to see what his client's are asking and how he is advising as a consultant with 15 years experience. We will discuss a number of topics you, as a small business owner, will not want to miss. John provides a wealth of information and first hand knowledge you can use to ask your benefits consultant, attorney, CPA, or other trusted advisor. Email John Price at If you'd like further information regarding anything we discussed in the video, please check out these links: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program-ppp https://home.treasury.gov/coronavirus Visit www.ejplawoffice.com to reserve your FREE, 30 minute phone consultation today. All information is for educational purposes only and does NOT constitute legal advice. ATTORNEY ADVERTISING. www.ejplawoffice.com (213) 784-3640 , COVID-19 Stimulus Package, Business, LLC, Partnerships, LLPs, Corporations, Closely Held Businesses, 2020
• Starting a business is extremely difficult. There are a lot of concerns to think about such as: product/service provided, the business process, funding, location, marketing, logistics, and a host of other concerns. The last thing you as a business owner needs to worry about is which entity type you should choose. The Law Office of Eric J. Proos, P.C. works with companies of all sizes and all different types of structuring. Don’t use online advice that may not match what you and your business are trying to accomplish. Call Eric Proos today for your free 30-minute consultation to determine which entity structure is right for you and your business. Experience in All Types of Industries The Law Office of Eric J. Proos, P.C. represents business clients in all different sectors ranging from cosmetics to technology platforms to real estate development. Eric Proos has performed and advised on the entity formation for all different company structures, such as: Sole Proprietaries Doing Business As, DBAs General Partnership Limited Partnership Joint Venture Limited Liability Partnership, LLPs Limited Liability Companies, LLCs Corporations C-Corporations Non-Profits Visit www.ejplawoffice.com today to schedule your FREE, 30 minute phone consultation. All information is for educational purposes only, and do not constitute legal advice. ATTORNEY ADVERTISING www.ejplawoffice.com (213) 784-3640 , Different Business Entities, Business, LLC, Partnerships, LLPs, Corporations, Closely Held Businesses, 2020
• A Limited Liability Company, LLC, should be sure to include an operating agreement when forming the LLC. In addition to the Articles of Organization, owners of a Limited Liability Company, LLC, should reduce their agreement regarding the LLC to writing. Operating agreements are specifically addressed in the California Revised Uniform Limited Liability Company Act. Even a single member LLC should have a written operating agreement to show that the Limited Liability Company, LLC, is separate and distinct from the owner or person who owns the LLC. Operating agreements must be drafted with care, detail, and knowledge of Limited Liability Companies, LLC. The Law Office of Eric J. Proos, P.C., is here to help you and your Limited Liability Company, LLC with its operating agreement. What is Included in an Operating Agreement Operating agreements for your LLC should include some basic information such as identification of the owners by name, the owners’ capital contribution, name of the LLC, and address of the business. Additionally, according to the California Revised Uniform Limited Liability Company Act, an operating governs the following: Relations among the members as members and between the members and the LLC; The rights and duties of anyone identified as a manager; The activities of the LLC and the conduct of those activities; and How to amend the operating agreement. Most people only discuss what should be included in your Limited Liability Company, LLC, operating agreement. In addition to what should be included in an operating agreement, the California Revised Uniform Limited Liability Company Act also states what should not be included in your Limited Liability Company, LLC, operating agreement. Your LLC operating agreement should not do the following: Vary a limited liability company’s capacity under Section 17701.05 to sue and be sued in its own name. Vary the law applicable under Section 17701.06. Vary the power of the court under Section 17702.04. The Law Office of Eric J. Proos, P. C. has help countless Limited Liability Companies, LLC, to properly form including preparing and filing the Articles of Organization and drafting its operating agreement. Do not start your LLC without a properly drafted operating agreement or with a boilerplate LLC operating agreement that was found online. Visit www.ejplawoffice.com to reserve your FREE, 30 minute phone consultation today. All information is for educational purposes only and does NOT constitute legal advice. ATTORNEY ADVERTISING. www.ejplawoffice.com (213) 784-3640 , Operating Agreements: Dos and Don'ts, Business, LLC, Partnerships, LLPs, Corporations, Closely Held Businesses, 2020
• Three types of partnerships exist: general partnership, limited partnership, and limited liability partnerships. Each partnership structure possesses its own characteristics, and some forms of partnerships are not accessible to everyone opening a business. Partnerships are governed by the California Corporations Code and unless you have an experienced attorney you may form an unintended partnership. That is why it is vital to contact counsel to determine the proper steps, documents, and agreements you need to form the type of partnership that fits your business. A general partnership has the following characteristics: 1. General partners are liable for all business debts, including court judgements. 2. Each general partner in a general partnership can be sued for the full amount of any business debts. 3. Any individual partner in a general partnership can bind the entire business to a contract as long as the contract was to carry out the ordinary course of business. Many companies form as general partnerships. The Law Office of Eric J. Proos, P.C. can make sure your general partnership is formed the proper way with proper documentation and agreements so all partners are on the same page. Limited partnerships offer a hybrid of general partnerships and limited partnerships. A limited partner is someone who does not have the same power as a general partner. That is why that partner is “limited”. A limited partnership possess the following characteristics: 1. A limited partnership consists of a general partner and a limited partner. 2. The general partner has the same role as in a general partnership. A general partner can bind the limited partnership to contracts and is personally liable. 3. The limited partner contributes financially to the limited partnership, but has limited control over the business decisions and operations, and NORMALLY cannot bind the partnership to business deals (there are exceptions). 4. The limited partner receives the benefit of protection from personal liability, but as stated above, there are exceptions. Ever wonder why law firms, accounting firms, and some other professional service firms are all limited liability partnerships, LLPS? The Law Office of Eric J. Proos, P.C. will address that question and some other characteristics of limited liability partnerships, LLPs. 1. Limited Liability Partnerships, LLPs, are only available to professionals such as accountants, lawyers, and architects. 2. Limited Liability Partnerships, LLPs, provide all of its owner with limited personal liability. 3. In order to form a Limited Liability Partnership, LLP, there is a $70 filing fee and minimum tax payment of $800. You must complete and file Form LLP-1 with the California Secretary of State. 4. Any income that the Limited Liability Partnership, LLP, earns is treated as pass through income. However, the limited liability partnership, LLP, may elect to be taxed like a corporation. No matter which partnership structure your company chooses, a partnership agreement should be drafted and entered into by the partners. Visit www.ejplawoffice.com to reserve your FREE, 30 minute phone consultation today. All information is for educational purposes only and does NOT constitute legal advice. ATTORNEY ADVERTISING. www.ejplawoffice.com (213) 784-3640 , So You Want a Business Partnership?, Business, LLC, Partnerships, LLPs, Corporations, Closely Held Businesses, 2020
• Among the many types of business structures, a sole proprietorship is the simplest. A sole proprietorship is exactly what the name implies. It is a company that is owned by one person. A sole proprietorship cannot have more than one owner. The Law Office of Eric J. Proos, P.C. works with companies that have started as sole proprietorships, have grown, and had to restructure into a different entity type. Characteristics of a Sole Proprietorship: Each entity type, whether it’s an LLC, Corporation, Partnership, or Sole Proprietorship has its own characteristics. Generally, a sole proprietorship has the following characteristics: 1. Formation Requirements: This is the easiest type of business to form. There are no forms to complete, no filing with the state, and no by-laws to draft. One task you must complete is to register the sole proprietorship with the city and/or county it is located within in order to pay taxes. 2. Tax Treatment: Since a sole proprietorship is not a separate business like an LLC, corporation, or partnership, all income is treated as personal income. You as the owner of the sole proprietorship will pay taxes on all the income, there are no company filings to complete. 3. Personal Liability: Once again, since this is not a separate business like an LLC, corporation, or partnership there is no personal liability protection. This means that if your company breaches a contract or someone slips and falls in your store, then you may be personally liable for any judgment or settlement. This can result in seizing personal bank accounts, real estate, residential properties, and more. This is a major concern for owners of a sole proprietorship. Whether you are operating as a sole proprietor, would like to learn more about sole proprietorships, or would like to discuss a different entity type, The Law Office of Eric J. Proos, P.C., is waiting for your call. Visit www.ejplawoffice.com to reserve your FREE, 30 minute phone consultation today. All information is for educational purposes only and does NOT constitute legal advice. ATTORNEY ADVERTISING. www.ejplawoffice.com (213) 784-3640 , Business Entity: Sole Proprietorship, Business, LLC, Partnerships, LLPs, Corporations, Closely Held Businesses, 2020
• A judge can order a piece of land to be split during a lawsuit. Learn more by watching this video. www.ejplawoffice.com (213) 784-3640 All information is for educational purposes and does NOT constitute legal advice. ATTORNEY ADVERTISING, Real Estate Partition, Real Estate, 2020
• Your LLC must file a Statement of Information. Learn how to complete it here. www.ejplawoffice.com (213) 784-3640 ATTORNEY ADVERTISING. All information is for educational purposes only and does not constitute legal advice., How to complete your LLC Statement of Information, LLC, Businesses, Corporations, Closely Held Businesses, 2020
• California law requires certain records to be kept. What are they? www.ejplawoffice.com All information is for educational purposes only and does NOT constitute legal advice. ATTORNEY ADVERTISING., Record Retention for Corporations, LLC, Businesses, Corporations, Closely Held Businesses, 2020
• What is a California Statutory Close Corporation? This video will provide some basic characteristics and help you decide on your entity choice. (213) 784-3640 ATTORNEY ADVERTISING. All information is for educational purposes only and does not constitute legal advice., California Close Corporation, LLC, Businesses, Corporations, Closely Held Businesses, 2020
• What does it mean when a business is "winding up"? Find out in this short video. www.ejplawoffice.com All information is for educational purposes only and does NOT constitute legal advice. ATTORNEY ADVERTISING., Winding up, Business, LLC, Partnerships, LLPs, Corporations, Closely Held Businesses, 2020
• What does a California Corporation need to include in its Articles of Incorporation? www.ejplawoffice.com (213) 784 3640 All information is for educational purposes only and does NOT constitute legal advice. ATTORNEY ADVERTISING., Articles of Incorporation, Business, Corporations, Closely Held Companies, 2020