With his accounting background, he also handles corporate matters on behalf of the firm. Gresham is presently Vice-President and will serve as President of the Young Lawyers division of the Memphis Bar Association in 2001. The latter project is designed to allow various school groups to attend and hear actual cases that are argued before the Supreme Court sitting in Memphis. He is also a member of the American Bar Association, Tennessee Bar Association, and the Leo Bearman, Sr. American Inn of Court. Before even the most promising business can put down roots and prosper, its owners must make the threshold decision about what kind of legal entity it will be.
Different options are available, with each option having strengths and weaknesses.
Legal requirements may vary by state depending on the business form chosen. Following are some general characteristics of the most prominent business entities. As the variety of choices indicates, competent legal advice is necessary to make the proper decision. The greatest virtue of a sole proprietorship is its simplicity. From a legal standpoint, the business and its owner are the same.