Business Entities

Business Entities

There is a lot of satisfaction in helping a client take his or her dreams and make them a reality. Helping my clients set up their businesses and then being with them, by their side, as their businesses grow, take off, and become profitable, is very rewarding. Selecting the proper entity for your business is paramount to laying the proper foundation, which will afford you personal liability protection and which allows your business to grow with you. I provide a broad range of business legal services including:

Formation of Corporations

There are several legal documents which must be prepared to form a corporation. Many of these documents need to be filed with The Secretary of State’s Office, The South Carolina Department of Revenue, and the Internal Revenue Service. I will be glad to assist you in the preparation of these forms and documents. I will also prepare the internal documents for the control and operation of your company.

Formation of Limited Liability Companies (LLC)

Many people are electing to use the LLC as their business entity. Most of the time this is a correct choice. It affords liability protection and is a pass-through tax entity. There are several legal documents which must be prepared to form an LLC. Many of these documents need to be filed with The Secretary of State’s Office, The South Carolina Department of Revenue, and the Internal Revenue Service.

Formation of Partnerships

Although a partnership can be formed with a handshake, it is always best to have a Partnership Agreement in place. My job is to take you through the potential issues which may arise in the future. It is easy to get married, but hard to get divorced. Most people go into business looking at the upside. They do not want to think about, “What if it does not work out?” Partnership documents must be very explicit about the role, financial contributions, and participation of each partner. I will take the time to understand your long-term business goal and help you draft the proper partnership agreement for your business.

Succession Plans or Buy Out Agreements

Most new business owners never consider what happens should they no longer be involved in their business. Whether death, divorce, illness, disability or a disagreement between owners occurs, it is helpful to have a succession plan or a Buy-Out Agreement in place to cover these circumstances. Let me help you through the process of crafting a well-thought-out succession plan or a Buy-Out Agreement for your business.

Counsel for the Operation of Businesses

Many businesses do not need to have a full-time attorney on staff. However, they may still need ongoing legal help with the plethora of matters that affect a business owner every day. I have assisted businesses of all sizes in the capacity of outside counsel. I want to be that person for you.

Employment Law

South Carolina is an “employee at will state.” An employee can be hired or fired for any reason other than Constitutionally protected classes. Does your business have an Employee Handbook? Does it comport with current South Carolina law? Do you want to enter into a contractual relationship with your employee or your employer? What needs to be in the contract to make it binding on the parties? All of these are questions that I will help you answer.

Employment Contracts

I can help ensure the employment contracts you use for your staff members and employees are written in a manner that protects your company while still adhering to state and federal regulations. I understand how important the right contract is to your company’s success.

Non-Compete Agreements

Once you have shared internal company information with high-level staff members, you need to feel confident they are not going to share that information with competitors or start their own competing business. The law regarding non-compete agreements can be confusing; I can help draw up an agreement that will protect you while ensuring it is fully enforceable in court.

Confidentiality Agreements

Protecting your company’s trade secrets, intellectual property, and client lists are imperative to the successful growth of your business. I can help by drafting agreements which bind employees, business partners, and others who may need information from you to prevent them sharing information.

Business Planning

Starting a business requires you to have a plan in place for growth, hiring, and borrowing money. I can help you with all phases of growing your business; I take the time to understand your goals and help craft a plan to help you meet those goals.

When you need assistance with any aspect of your business, from formation, to creating an exit strategy, contact The Real Estate & Business Law Firm of Franklin M. Shuler, LLC in Sumter, South Carolina. I make it my business to understand your business.