How Does a Maryland LLC Protect My Business?

The most common question I get from new business owners is "How Exactly Does an LLC Protect Me?"

Handshake Agreements

You don't think you need a written contract or any agreement in writing. After all, you're starting a business with your best friend who is honest and reasonable. What could go wrong?

The Three Steps of Choice of Entity

The initial and most important decision facing a new business owner is a task often referred to as “choice of entity" -- whether to operate the endeavor as an LLC, a partnership or a corporation. However, it is important to understand that choice of entity requires three types of analyses, each of which is entirely different from the others. When considering choice-of-entity, owners should do all three analyses and then, if there are any conflicts among them, reconcile these conflicts.

What's a Maryland B Corporation?

The State of Maryland recently enacted the nation's first B corporation statute. This new form of for-profit business entity seeks to maximize the social welfare benefit of all stakeholders (employees, owners and the public) and relieves corporate board members of potential liability for failing to maximize shareholder interest alone.