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It is not required that a California cannabis or hemp business hire a lawyer to ensure their corporate structure and partnership agreements are properly formed. However, when businesses use online forms or non-attorneys to draft important corporate documents, they risk creating ambiguities or other situations that lead to litigation instead of providing the certainty and guidance that was intended by the parties.
There are many exceptions to verbal contracts being enforceable, as they can sometimes be difficult to prove because the evidence of their existence is less certain. Our experienced corporate and business law attorneys in California can advise on the potential enforceability, defenses, and litigation strategies available for oral contract disputes.
Corporate structure has a direct impact on tax liability and legal liability, whether your California cannabis or hemp business is run by just you or includes partners or shareholders. Whether you anticipate growth, or are simply happy with your existing operations, you will need to protect your business and personal property from liability from the start by organizing your corporate structure properly.
One of the main reasons cannabis and hemp companies incorporate is to shield the owners of the business from the debts and creditors of the business. In general, a properly formed and maintained entity will act to shield its owners from liability.
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