LEGAL BASICS: Business Formation [Video]

In this video, I will explain the legal basics of business formation from the different types (Sole Proprietorship, LLC, & Corporations) to why you might want to form a legal entity.

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Disclaimer: The content on my channel is not legal advice and does not establish an attorney/client relationship. You should consider contact an attorney to help with your specific questions.

00:00 About Tom the Business Lawyer
01:31 What Is a Business Formation
01:50 What Is a Sole Proprietorship
02:06 Business Credit with a Sole Proprietorship
02:24 California Business Entity: LLC or Corporation
02:36 California Corporation Taxation
02:49 California LLC vs Corporation
03:12 Why Create a Business Entity
03:43 Questions To Ask When Starting a Business
03:55 How Does an LLC and Corporation Work
04:45 Business Entity Formalities
06:18 Learn How To Protect Your Business From a Lawsuit