Starting and Managing a Business

An LLC can be a good choice for many small businesses, but forming one is not automatically the right answer for everyone. The appropriate structure depends on what your business does, who owns it, your potential liability, how you plan to operate the business, and tax considerations.

We’ll talk with you about what you’re actually trying to accomplish and help you choose the simplest business structure that meets your needs.

LLCs and corporations can both provide liability protection for their owners, but they differ in how they are owned, managed, taxed, and governed. LLCs generally offer greater flexibility and fewer formal requirements, while a corporation may make more sense for certain businesses, ownership structures, or growth plans.

There is no universally “better” choice. We can help you evaluate the legal differences and coordinate with your accountant or tax advisor when tax considerations affect the decision.

North Carolina does not generally require an LLC to have a written operating agreement, but we strongly recommend one—particularly when a business has more than one owner. A good operating agreement establishes how the business will be managed, how profits and losses will be allocated, what happens when an owner wants to leave, and how important decisions will be made.

It is much easier to agree on those rules while everyone is getting along than after a disagreement arises.

Yes. Filing the paperwork to create an LLC is relatively straightforward, and some business owners can reasonably handle a simple formation themselves. The more important questions are often what happens after the LLC is formed: how ownership is structured, how decisions are made, what happens if an owner dies or leaves, and whether appropriate agreements are in place.

We can help with as much—or as little—of the process as your business actually needs.

Start by reviewing your operating agreement, shareholder agreement, or other governing documents before the dispute escalates. Those documents may already establish how decisions are made, whether an owner can leave or be bought out, and how disputes are supposed to be resolved.

We can help you understand your rights and work toward a practical solution, including negotiation, a buyout or separation agreement, mediation, or litigation when necessary.

Yes. We can assist with the legal aspects of buying or selling a business, including letters of intent, purchase agreements, due diligence, ownership transfers, leases, real estate issues, and closing documents. We can also work with your accountant, lender, broker, and other advisors to help coordinate the transaction.

Ideally, before there is a problem. We regularly help business owners with contracts, ownership changes, leases, purchases and sales, succession planning, governance questions, and other decisions that arise as a business grows.

You do not need an in-house legal department to have an attorney you can call when a legal question comes up. Sometimes a short conversation early can prevent a much more expensive problem later.