There is no “one size fits all” form of business entity. Whether new business owners should use partnerships, corporations, or limited liability companies (or other forms of organization) in the operation of their businesses depends on multiple factors. Contact one of our Charleston corporate lawyers for more information on business organizations.
Starting A New BusinessFrame Legal, LLC
The selection of the form of business entity will have consequences during the life of the business. The selected business entity may affect whether the business owner will be liable for the obligations of the business; it may influence what assets the business owner will transfer to the business; and it may determine whether the business will continue to operate after the business owner has ceased to participate in it. As such, it is necessary to consider short-term and long-term goals of the business, and the nature of the business itself, in order to determine the appropriate form of legal entity that best suits the operation of the business.