Here are some recent changes in California corporate law that might affect small business owners:
- Remote shareholder meetings: California law now allows for shareholder meetings to be held remotely, as long as certain requirements are met. This is a change from the previous law, which required shareholder meetings to be held in person. This change could make it easier for small business owners to hold shareholder meetings, especially if their shareholders are located in different parts of the state or the country.
- Increased penalties for wage theft: California has increased the penalties for wage theft. This means that businesses that violate wage and hour laws could face larger fines and penalties. This change could encourage businesses to comply with wage and hour laws, which could benefit small business owners who are trying to compete fairly.
- New requirements for franchise agreements: California has enacted new requirements for franchise agreements. These requirements are designed to protect franchisees from unfair or deceptive practices. This change could benefit small business owners who are considering buying a franchise, as it could help them to make an informed decision.
It is important for small business owners to be aware of these changes in California corporate law. By understanding these changes, small business owners can make sure that they are complying with the law and protecting their interests.
Here are some additional resources that small business owners may find helpful:
- California Secretary of State: The California Secretary of State website has information on a variety of corporate law topics, including how to form a corporation, file annual reports, and register a fictitious business name.
- California Chamber of Commerce: The California Chamber of Commerce website has information on a variety of business topics, including corporate law, taxes, and regulations.
- Small Business Development Center: The Small Business Development Center (SBDC) network provides free and confidential counseling and training to small businesses. SBDCs can help small business owners with a variety of issues, including corporate law, marketing, and financing.
If you have any questions on how these laws may affect your business, please give us a call.