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Blog Posts Tagged "the business corporations act"

LLC or Corporation? Which Is Right for Your New Business?

For most entrepreneurs, the choice of business entity comes down to an LLC or corporation, since both insulate personal assets from liability claims. LLCs, S corporations and C corporations all have advantages, depending on your business goals. 

Generally, the comparisons among the three will center on taxes, operating flexibility and treatment of investors and shareholders. 

Here’s a quick overview of these three alternatives that will give you a starting point for considering your options before you talk to your attorney. 

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Don’t Allow Your Business to Become a Victim of the Dreaded Ds

Is your closely-held business protected from the five dreaded Ds – death, disability, divorce, disaster and disagreement?

Turmoil, and even business failure, can follow if you don’t have a legal succession plan in place when any of these events occur. While this may not offer you any comfort, you are certainly not alone if you haven’t yet set up a succession plan: fewer than half of closely-held and family-owned businesses have a plan in place that covers these contingencies.

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The South Carolina Business Court:  What It is and Why It’s Used

On September 7, 2007, the Chief Justice of the Supreme Court of South Carolina signed an administrative order creating the Business Court Pilot Program in South Carolina. The signing of this order was not a laissez-faire undertaking; rather, it was the result of a well-reasoned recommendation by the South Carolina Bar’s Task Force on Courts.

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