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Contract Negotiations › Limited Liability Company (LLC)

Bradley Arant Boult Cummings LLP

The Risks of 50-50 Owned Business Partnerships: This Marriage of Equals Does Not Guarantee Success

Bradley Arant Boult Cummings LLP on

During Valentine’s Day month, we are taking a look at 50-50 owned private businesses. Forming a co-owned company may sound like a good idea on paper because the two partners are close friends or family members who are making...more

Farrell Fritz, P.C.

LLC Survives Member’s Death. Dissolution Petition Doesn’t.

Farrell Fritz, P.C. on

In 2018, two members of a realty holding LLC sought judicial dissolution based on the death of one of the other members. The operating agreement defines a member’s death as an event of “Dissociation.”...more

Patterson Belknap Webb & Tyler LLP

First Department Affirms the Validity of an LLC Operating Agreement Adopted by Majority Members without Minority Consent: ...

Patterson Belknap Webb & Tyler LLP on

In Shapiro v. Ettenson, No. 2849, 2017 BL 19404 (App. Div. 1st Dep’t Jan. 24, 2017), the Appellate Division, First Department recently affirmed a decision by Supreme Court Justice Kelly O’Neill Levy upholding an LLC operating...more

Harris Beach Murtha PLLC

Family Businesses Should Carefully Consider Indemnification and Advancement Obligations Included In Limited Liability Company...

Harris Beach Murtha PLLC on

When a family business operated as a limited liability company brings on professional management, the parties typically focus on items in the operating agreement such as capital contributions, allocations and distributions,...more

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