Willcox, Buyck & Williams, PA Blog

Monday, June 19, 2017

Should Your Company Be Asking For Wage History Information During The Hiring Process?

Asking a job applicant about their salary history is about as common as asking for their social security number. You want to be able to assess their worth to your company while trying to keep business expenses low. It’s completely understandable. However, this practice has led some to question whether it is perpetuating pay disparities between majority and minority groups throughout the country. The past two years have revealed that states are starting to get serious about equalizing pay amongst men, women, and minorities.
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Monday, May 29, 2017

Top 5 Business Contract Considerations To Reduce Business Risk

As a businessperson, you are likely faced with multiple contract issues on a daily basis. The more contracts you read, the more numb you can become to the words endlessly flowing down, page after page. It’s easy to become complacent about the provisions in each contract, especially if you have not faced a breach of contract action. Even Read more . . .

Monday, May 15, 2017

Compliance Audit Basics & Why Your Company Needs Them

The very words “compliance audit” are enough to send chills down the spines of many entrepreneurs and business executives in the state. Why do many people get anxious at the thought of having their businesses audited by compliance agents? It may be because they are aware of the tough penalties facing non-compliant companies or because they are not 100 percent certain their entire company operations are compliant with federal and state regulations.

If you are having doubts as to whether your company’s top-down operations comply with the law, reach out to an experienced South Carolina compliance lawyer to help you identify non-compliance hotspots.
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Sunday, April 30, 2017

Due Diligence Checklist for M&As - Have You Checked All Boxes?

Due diligence is integral to the success of any M&A transaction. It is performed to validate the valuation of a target company and to reveal risks that may complicate the transaction or the integration of the two companies. If an M&A transaction is carried out without comprehensive due diligence, the buyer will likely overpay, absorb significant risks or have problems integrating the two companies. These could cost the buying company millions of dollars. Always have an experienced South Carolina mergers and acquisitions lawyer perform due diligence on all your company’s M&A transactions.
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Saturday, April 15, 2017

Preventing Employment Discrimination Claims

Employees can be a company’s most valuable assets, but sometimes, they can be a great liability.  Failing to proactively manage employee issues can cost your company its reputation and its’ operating capital. The best way to proactively address potential employee issues is to talk with an experienced labor and employment lawyer.
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Wednesday, March 29, 2017

What are the elements of a valid business contract in SC?

Contracts are the backbone of our society. They represent promises made and provide recourse to promises broken. People place a lot of value on contracts and rightfully so. However, with the advancement of the Internet and so-called do-it-yourself legal services, any document with the term “Contract” emblazoned on top has taken on some talismanic powers that may be undeserved.

As convenient as these ubiquitous template agreements may be, problems arise when individuals seek to enforce those agreements, only to find that the contracts are not valid.
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Sunday, March 26, 2017

Forming a Limited Liability Partnership in SC

Starting a business with someone can be an exciting endeavor. Spirits are high and hope springs eternal. Rarely is there a thought about what happens when things don’t go so well. Partnerships are like marriages that way.  

Any good Read more . . .

Tuesday, February 28, 2017

Employee vs. Independent Contractor - Beware the IRS Audit

One of the most important questions for any business owner is whether to classify a worker as an employee and an independent contractor.

The United States Department of Labor says that the misclassification of employees and independent contractors is one of the “most serious problems facing affected workers, employers and the entire economy.” This is one problem that an experienced labor and employment lawyer can help you avoid.

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Sunday, February 26, 2017

Should I include a mandatory arbitration clause in my business contract?

Arbitration is a way to resolve any disputes outside of the court system. Over the years, as court dockets have become impacted, arbitration clauses have become more popular in commercial contracts. By agreeing to binding arbitration parties agree to abide by the decision of one or more chosen neutral parties. The solution imposed is thus legally binding and does have the ability to be enforced in a court.

Arbitration In South Carolina

Arbitration has a long history in South Carolina, dating all the way back to the late 1700s.

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Monday, January 23, 2017

Business Advocates Call for Uniform Licensing Law

Should South Carolina have a uniform standard for issuing business licenses?

If you are starting a business in South Carolina, there are a number of steps you must take, starting with selecting the right business organization, filing foundational documents with the state, crafting a business plan, and obtaining the necessary business licenses.

While this seems straightforward, these matters can become complicated, particularly when it comes to licensing. This is because there is no uniform licensing law and the state's 270 cities and towns (and some counties) have different classifications, forms, due dates, term and renewal dates, and fees. So if you intend to operate in more than one municipality, there are many bridges to cross.

Read more . . .

Monday, January 16, 2017

Business Plans in a Nutshell

How can I prepare a business plan?

If you're planning to start a new business in 2017, having a well designed business plan is essential for attracting investors or other sources of capital. Moreover, creating a business plan is an essential first step in launching a new venture. This document establishes what your business does, where it plans to go, and how it plans to get there. In other words, it's your roadmap to success.

In short, a well crafted business plan will include a description of the business and the leadership team, the target market, what sets you from the competition, and last but not least, financial projections.

Read more . . .

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