All Posts Tagged Tag: ‘operating agreement’

From a Caterpillar to a Butterfly: Converting Corporations to LLCs

Limited Liability Companies (LLCs) are almost always a better choice of entity than Corporations, yet not all businesses had the good fortune of being born as LLCs. There is hope for these corporate dinosaurs, however, as relatively recent changes in the law have made it easier to convert a corporation into an LLC.

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Buy-Sell Agreements: Protect Your Ownership Interest in the Event of Death

Business owners often have concerns over what would happen to their ownership interests when an owner dies. Some of these concerns include whether the owner’s descendants will inherit economic interests, voting rights or both. These concerns can be dealt with by entering into a properly drafted Buy-Sell Agreement that can be included in or be separate from an operating, partnership […]

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A Business Law Myth

Business Law Myth: 51% ownership equals total control of the business. For certain “major decisions” unanimous consent might be required, depending on whether the business is governed by the partnership, corporate or LLC statute. Moreover, majority owners assume certain fiduciary duties that often prove restrictive… Recommend on Facebook Share on Linkedin Tweet about it Subscribe to the comments on this […]

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Business Divorce: Breaking Up is Hard to Do

It has been said that a business partnership is much like a marriage.  As in some marriages, hard times can uncover fundamental differences that were previously ignored when business was booming.  Over the years we have represented minority owners and majority owners, partners and shareholders, corporations, partnerships and LLCs in various “breakup” scenarios.  These scenarios range from “cold shoulder” formalization […]

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Proposed Legislation Just Passed Committee

Proposed legislation to “patch” the hole punched into LLC law by a recent, controversial Florida Supreme Court case just passed committee with little opposition. Let’s see what happens when it gets to the floor… Recommend on Facebook Share on Linkedin Tweet about it Subscribe to the comments on this post

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