When choosing an entity, limited liability companies (LLCs) are an attractive option because they insulate their members from personal liability, allow governance flexibility and provide a single ...

Operating agreements are pivotal in outlining a business’ financial and functional decisions. It’s the guiding document that bonds and legally protects business partners. Nonetheless, up-and-coming ...

An LLC operating agreement is a legally binding document that outlines the LLC’s preferred operating, management and financial procedures. Its purpose is to guide the business’s internal operations ...

When drafting multi-member limited liability company operating agreements, clients tend to focus on the crucial elements to getting the company up and running—notably, how much of the company does ...

In Kober v. Nestampower, 2025 N.Y. Slip Op. 06609 (2d Dept. Nov. 26, 2025), the Appellate Division, Second Department, decided an appeal ...

I often hear vessel owners, brokers and others in the marine industry ask why they need an attorney to form a limited liability company, when filing one form online can typically accomplish it. The ...

A model promote crystallization clause that can be used in a limited liability company (LLC) operating agreement for a 90/10 real estate joint venture (JV) formed between a minority owner operating ...