Outline the initial steps of forming a CA business entity, specifically a Limited Liability Company (LLC). First, read the section on Limited Liability Companies , Second, watch the Video at the bottom of this page. Third, review the Fact Pattern. And, fourth, answer all 6 questions below. **This assignment is worth up to 10 points of extra credit.
Fact Pattern:
Lowell Litigant and Bernard Bedford have a great idea to open a shop selling re‐cycled kitty litter, in Huntington Beach, CA. Lowell and Bernard believe there is a demand for their product in that area of the State. They want to form a Limited Liability Company called, “Un‐Fresh Step, LLC.” Lowell and Bernard have already signed a lease for the shop, and have the equipment ready for production.
Questions:
- With which CA government agency will Lowell and Bernard need to register their LLC?
- Is the LLC name (“Un‐Fresh Step, LLC”) available? *Hint: check here (Links to an external site.). https://businesssearch.sos.ca.gov/
- What document will Lowell and Bernard file to form the LLC, and what is the filing fee?
- Can Lowell be the LLC’s Registered Agent?
- Once the LLC is formed, the owners should prepare an internal governing document. What is that called?
- Take a look at some of the brands and businesses you are most familiar with. Name 2 that do business as an LLC.