Charles Baldwin's law practice is concentrated in corporate and international law,... more
Charles Baldwin's law practice is concentrated in corporate and international law, representing companies in the technology, health care, pharmaceutical, real estate, and port development industries. He serves as Village Attorney for the Village of Bald Head Island, North Carolina and also regularly advises businesses on start-up and private equity issues. He is a frequent speaker and writer on... view profile
Creating a limited liability company, or LLC, is one of several ways to structure a business. The other choices are general, limited, or limited liability partnerships. A shareholder in an LLC is not personally liable for any of the debts of the company, other than for the money they invested in that company. In a general partnership, all partners manage the business and are personally liable for its debts. In limited partnerships, partners' liability is limited and they have no voice in the decision-making. And in a limited liability partnership (LLP), all partners have some degree of limited liability. A lawyer with LLC experience can help you determine if forming an LLC is advantageous and appropriate for your business. If you decide to form an LLC, the attorney can draft the paperwork you need to formalize your choice, including provisions for management, ownership transfers, and profit and loss distributions.