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- In this video, we're gonna talk about everything that you need to know about a California Professional Corporation. What is a professional corporation and when do you need one? My name is Sam Mollaei and I'm the number one, highest rated business lawyer for entrepreneurs. I help entrepreneurs start their U.S. business with piece of mind, without dealing with complicated government forms. In 2013, I started a virtual law firm so I could work remotely, anywhere in the world, and help entrepreneurs start their U.S. business at the same time. Since then, I've assisted more than 1,246 entrepreneurs start their U.S. business. In California, certain professions are prohibited from forming an L.L.C. or a traditional corporation, and instead must incorporate as a professional corporation. Professions that are required to be professional corporations include many of those that must have a state license, such as lawyers, doctors, dentists, accountants, pharmacists, veterinarians, optometrists, nurses, speech language pathologists, audiologists, dental hygienists, family therapists, psychiatrists, physiologists, among many others. California professional corporations can be formed only to provide professional services. A professional service is defined as any service that requires a license issued by a California state regulatory licensing board, state court, or similar agency. To provide services, all California professional corporations must have a currently effective certificate of registration issued by the government agency regulating their profession. Professional corporations are also governed by the governmental agency that is responsible for overseeing the profession they engage in. For example, the agency may have limitations on the professional corporation's choice of name and require the professional corporation's bylaws to specify who can be officers and own shares of the professional corporation. Professional corporations must comply with applicable rules in the California Business and Professions Code. These rules vary by profession, but they all require that only licensed persons can be shareholders of a professional corporation. Unless an exception applies, a shareholder must be licensed in the profession that the professional corporation is engaged in. However, other licensed professions may be officers, shareholders, directors, or professional employees in specified professions as long as the total number of shares owned by these other licensed professions is not more than 49% of the corporation's total shares. The name of a professional corporation must also comply with rules governing the profession and any name requirements issued by the licensing agency for that profession. It also must be distinguishable from the name of any other business entity on file with the Secretary of State. As a business lawyer for professionals, I've assisted hundreds of professionals just like you start their professional corporation and I can definitely help you with yours. If you're looking to form your professional corporation, click the link in the description or email me at sam@mollaeilaw.com.