Blog Posts in 2016

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What Should LLC Managers Get Paid?

By: Tamara B. Pow, Esq. A question I am frequently asked by LLC owners how LLC managers should get paid? A limited liability company operating agreement should clearly outline payments to both ...
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Consider Carefully the Powers Granted to LLC Managers!

By: Tamara B. Pow, Esq. When starting an LLC, carefully consider the powers granted to an LLC manager. Your operating agreement should have customized provisions regarding what the manager(s) can and ...
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Electing and Removing LLC Managers - What You Need to Know

By: Tamara Pow, Esq. Beware of LLC Managers that can’t be removed! As a business attorney, I work with many LLCs in San Jose and the Bay Area. Some of those have had to remove their LLC manager ...
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Corporation Alert! New Statement of Information Forms

By: Tamara Pow, Esq. The California Secretary of State has updated business entity forms yet again this year. In July I wrote a blog referencing the changes to certain LLC forms including the Articles ...
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Bob Hawn presenting to the Internet & Privacy Law Committee on November 8th

Bob Hawn will be presenting a seminar on Website Terms of Use and Contract Formation to the State Bar of California's Internet and Privacy Law Committe on November 8th.
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Should your LLC be Member Managed or Manager Managed? Don't take this critical decision lightly.

By: Tamara Pow, Esq. One of the first decisions you have to make when you decide to form a limited liability company is whether the company will be managed by the members or by one or more managers. ...
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Online Agreements: Size Matters!

By: Robert Hawn, Esq. I recently had the opportunity to speak on a panel at the State Bar of California Annual Meeting to discuss doing business online. As a technology lawyer practicing in the San ...
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California Conforms to New Tax Due Dates - Update your Agreements!

By: Tamara B. Pow, Esq. On December 8, 2015 I published a blog about new federal partnership tax return filing deadlines. At that time, the IRS had just announced that partnership and S corporation ...
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LLC Operating Agreements - Failure to Contribute, Part II

By: Tamara B. Pow, Esq. What do you do if your LLC needs capital and a Member fails to contribute their share? The question of “What if the Company needs more money?” was addressed in Part ...
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Strategy Law is sponsoring C2SV

Strategy Law is proud to be a sponsor of Creative Convergence Silicon Valley (C2SV) , a cutting edge conference bringing together business disrupters and technology luminaries along with established ...
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LLC Operating Agreements - Failure to Contribute, Part I

By: Tamara B. Pow, Esq. Don’t get caught with an underfunded LLC. Plan ahead in your LLC Operating Agreement. The question of “What if the Company needs more money?” is often not ...
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Promissory Notes: Practical Considerations When Entering Into A Note

By: Serge Filatov, Esq. One of the easiest ways to document a loan is through the use of a promissory note. Practicing here in Silicon Valley and San Jose, I have documented countless promissory notes ...
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I'm So Happy - Keeping the Peace With IP Infringement Clauses

By: Robert V. Hawn, Esq. Many technology companies generate their revenue by providing their technology, often in the form of software, to customers through licenses, subscriptions, or software as a ...
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Loans and Liens and . . . What Can Go Wrong Here (Part 2)? The Devil is in the Details - Protecting a Lender's Collateral Position Under the UCC

By: Jack Easterbrook The lender gets loan documents signed by the borrower and takes collateral from the borrower to secure the debt. It sounds easy and familiar. So what could go wrong? The ...
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Dealing with the Unknown - How Does Indemnification Get Triggered and What Happens Next

By: Robert Hawn As a start-up lawyer in Silicon Valley, I work with a number of companies that generate revenue through licensing their intellectual property, or access to it. In creating and ...
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Loans and Liens and. . .What Can Go Wrong Here? Protecting a Lender's Collateral Position Under the UCC - Once Again the Devil is in the Details

By: John Easterbrook The lender gets loan documents signed by the borrower and gets collateral to secure the debt – that is, a lien on the borrower’s property. It sounds easy and familiar. ...
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The Loan Commitment or Term Sheet - Have You Thought Through Everything That You Are Agreeing To?

By: Serge Filatov With interest rates still at historically low rates, many people here in Silicon Valley and San Jose are taking out inexpensive debt to finance their business and real estate needs. ...
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Creatively Covering Customers' Catastrophes: Cover THIS!

By: Robert Hawn As a San Jose corporate lawyer, many of our clients make their money through software licenses. As part of their deals, a number of risks have to be allocated. As explained in my blog ...
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Limitations on Deductibility of LLC Member's Share of Losses

By: Tamara B. Pow Will you be denied a deduction for your share of LLC losses? You may have pass through losses from your LLC membership interes t, but that does not mean you can deduct them against ...
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LLC Alert: New FTB Ruling Regarding LLC Fee For Sale of Real Estate Inventory

By: Tamara B. Pow Are you calculating the LLC fee correctly for an LLC’s sale of real estate? The Franchise Tax Board just released FTB Legal Ruling 2016-01 (July 14, 2016) regarding the ...
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LLC ALERT: New California LLC Forms!

By: Tamara Pow The Secretary of State is revising LLC forms again. Back in May, I wrote that the Secretary of State does not revise its forms often, but when it does, it is critical that business ...
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Crowdfunding: Are you the Right Investor?

If you have always wanted to invest in a start-up business, whether a high tech emerging growth company or a low tech products company, you have no doubt heard of the new SEC rules allowing ...
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New California LLC Statement of Information Forms - Don't be caught unaware!

By: Tamara B. Pow Will your LLC be suspended for failure to file the Statement of Information because you use an outdated form? In May of 2016 the California Secretary of State published a new form of ...
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Beware of an Inadvertent Tax Termination of Your LLC

By: Tamara Pow A limited liability company (“LLC”) can terminate for tax purposes even though it has not been dissolved with the California Secretary of State, resulting in potential tax ...
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Crowdfunding - Is this the deal for you?

By: Robert Hawn If you are an emerging growth high technology start-up, or a closely-held small business, you’ve heard of crowdfunding. Crowdfunding is commonly used to describe an approach to ...
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