Corporations and limited liability companies exist separately and distinctly from those who operate them. However, they may be liable for the acts of those who operate them---even when the connection seems somewhat remote. Consider the following... When the dog bites... In...
There can be special challenges in new ventures. A business venture often faces significant budgetary constraints in its start-up phase. Thus, prospective business partners commonly seek to manage legal expenses by retaining a single attorney. So, what’s the problem?...
I am often asked whether to transfer residential property into a limited liability company (LLC). Consider the following... Why transfer residential property to an LLC? It is not uncommon for an individual or a group of individuals to derive rental income...
An "owner" of a limited liability company ("LLC") is referred to as a "member." Is it possible (or wise) to have a limited liability company whose members include a minor? Consider the following... LLC members' interests and rights... As a starting...
THE LIMITED LIABILITY COMPANY ("LLC") has become a popular choice for small businesses because LLCs combine key features of both partnerships and corporations. All states have enacted LLC statutes (i.e., laws). In absence of an agreement among the owners...