Students Arm Businesses with Legal Acumen

Clinic students address formation, growth of new ventures

—By Maria Iacobo

Four students from USC Law’s Small Business Clinic presented the basic legal framework for local small business owners and budding entrepreneurs recently at an event organized by SCORE, a local division of the Small Business Administration.

More than 150 people filled the ballroom of the downtown Los Angeles Athletic Club, eager to hear about the legal necessities for their businesses.

Presentations were delivered by Marlayne “Laney” Ingram '10, Lauren Chase '10, Raphaela “Raffy” Taylor '10, and Erin Lapping '09. Topics covered included: the differences between an LLC, a C-Corporation and an S-Corporation; operating as a sole proprietorship or a partnership; developing a Shareholders Agreement and protecting personal assets from business failures.

Professor Michael Chasalow, director of the Small Business Clinic, followed the presentations with a brief overview of what to look for in hiring an attorney for a business enterprise and fielding questions from the audience for nearly an hour.

This was the second year in a row that the Small Business Clinic was asked to participate in SCORE’s program to support small business growth in Southern California.