Legal Question in Business Law in Georgia
from a legal standpoint, what is the biggest advantage to the corporate form of ownership for a shareholder?
Asked on 10/18/12, 7:28 am
2 Answers from Attorneys
Glenn M. Lyon, Esq.
MacGREGOR LYON, LLC, Business Attorneys
There is no one right/best answer. It depends on many factors.
Answered on 10/18/12, 7:36 am
Glen Ashman
Ashman Law Office also dba Glen Ashman Attorney
There is no way to answer such a generic question, as the form a business should be in (which might be an LLC, subchapter S corp, regular corp, partnership, sole proprietorship, limited partnership, etc) is dictated by tax concerns, nature of the business, individual liability, business needs of the parties and many other concerns. There are fact specific reasons that are different for each person asking. No one should ever start a business without two consultations - one with a lawyer and one with a CPA - to address these pros and cons.
Answered on 10/18/12, 8:15 am
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