Questions & Answers

Questions & Answers includes the CLIClaw Subscription Blogs and the answers to questions from our users. If you have a question for our team of experts, submit one for consideration! Review our archive for answers to past questions or use our search bar above to look for questions on a specific topic.

I've Got a Question!

What is a Shareholder?

What is a Shareholder? A shareholder, also known as a stockholder, is an individual or entity that owns shares of stock in a corporation. Some key points about shareholders: Ownership. Shareholders are part owners of the corporation in proportion to the number of shares they hold. For example,...

What is a Sole Proprietorship?

What is a Sole Proprietorship? A sole proprietorship is a type of business entity that is owned and operated by one individual in which there is no legal distinction between the owner and the business. The owner receives all profits (subject to taxation specific to the business) and has unlimited...

What is an S Corporation?

What is an S Corporation? An S Corporation is a corporation that makes a valid election to be taxed under Subchapter S of Chapter 1 of the Internal Revenue Code for income tax purposes. Stay Ahead of the Curve! Explore our comprehensive CLIC law Business Compliance Library for in-depth resources...

Who is a Member in an LLC?

Who is a Member in an LLC? In a Limited Liability Company (“LLC”), a "member" refers to an owner of the LLC. Members can be individuals, other LLCs, corporations, or any combination of these. Some key points about members in an LLC: Ownership Interest. Members hold an ownership interest in the LLC...