Gain insight into why NOT to form a single-member LLC.
Some may choose to form a single-member LLC just to get legal liability limitation, or just for perceived tax benefits, or to establish “legitimacy” as a business, per se. The first two of these reasons can be benefits of forming an LLC, but they are not the be-all and the end-all of criteria – or even the most important criteria one should consider when deciding which business organization structure is best for a new business. This video reviews common, yet often poor, reasons for choosing to form a single-member LLC.
Agenda
Faculty
Noel R. Bagwell, III, Esq.
Counsel & Clarity
• Operates ExecutiveLP®, a virtual law firm based in Nashville, Tennessee
• Has won numerous awards, including the Tennessee Supreme Court’s Attorney for Justice award for his pro bono work with veteran entrepreneurs, as well as the Clarksville, TN Mayor’s Certificate (2019) for his contributions to the business community in that city, which, in 2019, Money magazine named the Best Place to Live in America
• Exclusively works with business clients to transform their legal support from a cost center to a profit engine, through ExecutiveLP’s legal operations install service, Profit from Legal™, and ExecutiveLP’s Legal Lifeline and Signet™, outside general counsel services
• Author of How to Structure Your Business for Success, a book of legal guidance for startups interested in putting their new venture on a firm legal foundation; Profit from Legal, an upcoming book structuring legal operations around the use of legal key performance indicators to create the conditions necessary for legal support to generate a posi-tive ROI for businesses; and numerous print and electronic articles for the Nashville Bar Journal and various blogs
• The host of the Profit from Legal Podcast
• J.D. degree, Cumberland School of Law at Samford University; Scholar of Merit: Economic Analysis of Law; B.A. degree in Philosophy, minor in international studies, Austin Peay State University
• Can be contacted at 615-716-0606 (option 5) and [email protected], on LinkedIn: https://www.linkedin.com/company/2779139/; LinkedIn Group: https://www.linkedin.com/groups/13936380/; on Twitter: @ExecutiveLP; https://www.twitter.com/ExecutiveLP; Facebook: https://www.facebook.com/ExecutiveLP; or Fa-cebook Group: https://www.facebook.com/groups/profitfromlegal
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