A corporation may be organized for the business of conducting a profession. These are known as professional corporations. Doctors, attorneys, engineers, and CPAs are the types of profes¬sionals who may form a professional corporation. Usually there is a designation P.A. or P.C. after the corporate name in order to show that this is a professional association or professional corporation.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
The South Carolina Pre-incorporation Agreement of Professional Corporation of Attorneys is a legal document designed to facilitate the formation of a professional corporation for attorneys in South Carolina. It outlines the terms and conditions agreed upon by the incorporates prior to the formal incorporation process. This agreement serves as a precursor to the Articles of Incorporation and helps establish the framework for the corporation's formation and operation. Keywords: South Carolina, pre-incorporation agreement, professional corporation, attorneys, legal document, terms and conditions, incorporates, Articles of Incorporation, formation, operation. There are no different types of South Carolina Pre-incorporation Agreement of Professional Corporation of Attorneys as it refers to a standard agreement used by attorneys in South Carolina to establish a professional corporation. However, the content covered in the agreement may vary depending on the specifics of the attorney's practice and individual circumstances. It is advisable for attorneys to consult with legal professionals specializing in corporate law to ensure compliance with all relevant regulations and to tailor the agreement to their specific needs. In a typical South Carolina Pre-incorporation Agreement of Professional Corporation of Attorneys, some of the key elements that may be covered include: 1. Identification of the incorporates: The agreement will identify the attorneys who will be incorporating the professional corporation and their respective roles, responsibilities, and ownership percentages. 2. Purpose of the corporation: The agreement will outline the specific purpose and objectives of the professional corporation, which typically include the provision of legal services by the attorneys involved. 3. Capital contributions: The agreement may outline the initial capital contributions that each incorporated will make to establish the professional corporation. It may also specify the requirements for additional capital contributions in the future. 4. Share allocation and ownership: The agreement will specify the allocation of shares among the incorporates, determining each attorney's ownership percentage and voting rights within the corporation. 5. Management and decision-making: The agreement may outline how management responsibilities will be divided among the incorporates, including the appointment of officers or directors, decision-making processes, and other operational details. 6. Non-competition and confidentiality: The agreement may include provisions to protect the corporation's interests, such as non-competition clauses that restrict incorporates from practicing law within a specific geographic area or for a certain period of time, as well as clauses concerning confidentiality of client information. 7. Dissolution: The agreement may contain provisions detailing the procedures for dissolution of the professional corporation, including the distribution of assets and liabilities among the incorporates. It is important to note that the South Carolina Pre-incorporation Agreement of Professional Corporation of Attorneys should be reviewed and approved by each incorporated's legal counsel to ensure compliance with the South Carolina Code of Laws, the Rules of Professional Responsibility, and any other relevant regulations.
