Limited Liability Company Basics

You and your buddies have been working on a killer business idea for years. Well before you graduated college and began your full-time job, the three of you are finally in a position to dedicate time, effort, and monetary resources to making your dream business become a reality.

But where to begin? Starting a business is a huge financial risk. You don’t want to put your cars, home, and personal belongings at risk if you aren’t able to pay your bills. Shielding your personal assets is one of the many benefits of starting a limited liability company (LLC).

You’ve floated the idea to your potential business partners, but need more specifics. The best plan of action is to speak to a lawyer before starting an LLC.

Operating Agreements
Remember, the strength of your LLC lies in the operating agreement. It dictates everything from your limited liability status, to head off financial and management issues, and more. Not every state requires you to create an LLC, but having one is always advisable, particularly if you wish to operate your company by your own methods and rules and not those imposed on you by default through South Carolina.

This checklist will provide you a list of first steps to take as you open for business. Keep in mind that your LLC’s start-up requirements might vary from the list below, depending on the specific type of business you are in, and where your business is located:

1. Decide on a business name for your Limited Liability Company (LLC)
2. Search availability of your LLC’s chosen business name, and for similarity to existing names.
3. Register your LLC name
4. Create and sign an LLC Operating Agreement
5. Write your LLC’s Articles of Organization
6. File your LLC’s Articles of Organization with the Secretary of State office in South Carolina
7. Obtain your federal and local business licenses and permits for your LLC

At Dunes Law Firm we have been securing transactions for years in South Carolina. We are comfortable in making sure your business formation is legal and established. Give us a call.

Leave a Comment

Scroll to Top


No Attorney-Client Relationship Created by Use of this Website:

Your receipt of information from this website or use of this website to contact Dunes Law Firm, P.A. or one of its attorneys does not create an attorney-client relationship between you and the firm. Dunes Law Firm, P.A. does not accept a new client without first conducting a thorough conflicts check. You should not use this website to provide confidential information about a legal matter to the firm.

No Legal Advice Intended:

This website includes information about legal issues and legal developments. The content included is provided for informational purposes only and may not reflect the most current legal developments. Content on the website is not intended, and should not be taken, as legal advice on any particular set of facts or circumstances. You should contact an attorney for advice regarding your specific legal problems.

No Guarantee of Results:

Some of the practice summaries and attorney biographies on this website include results obtained in matters handled by Dunes Law Firm, P.A. on behalf of clients. The cases listed and the results obtained are included to provide information about the types of cases we handle and the experience of our attorneys. The information is not intended to convey a guarantee that the same or similar results can be obtained in any other matter. You should not assume that a similar result can be obtained in a legal matter of interest to you.

IRS Circular 230 Notice:

In accordance with IRS requirements, this is to inform you that any information on this website that could be construed as U.S. tax advice is not written or intended to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed on this website.

Third Party Websites:

As a convenience, this website may provide links to third-party websites. Such linked websites are not under the control of Dunes Law Firm, P.A., and the firm assumes no responsibility for the accuracy of the contents of such websites.

Authorized Practice of Law:

The jurisdictions in which each of our attorneys are licensed to practice are indicated in the individual attorney biographies on this website. The ability of any attorney to engage in any activities on behalf of a client outside that attorney’s states of licensure is subject to state statutes and professional codes and court rules. This website is not intended to solicit, legal employment outside our attorneys’ states of licensure that would constitute the unauthorized practice of law.

For purposes of compliance with South Carolina Rule of Professional Conduct 7.2(d), the Dunes Law Firm, P.A. attorney responsible for the content of this website is Thomas Stanley (1065 London St, Myrtle Beach, SC 29577).