GOOD NEW POST ON “THE PRESSURE OF STEPPING INTO THE FAMILY BUSINESS”

By , August 27, 2015 5:23 pm

Click on the link below for a new post with a brief but good discussion of the above subject:

http://www.lexology.com/library/detail.aspx?g=f2e58bec-9155-4bc3-ad6b-9c190950c029&utm_source=Lexology+Daily+Newsfeed&utm_medium=HTML+email+-+Body+-+General+section&utm_campaign=Lexology+subscriber+daily+feed&utm_content=Lexology+Daily+Newsfeed+2015-08-12&utm_term=

 

ISSUES WHEN FOUNDERS OF NEW COMPANIES WORK “DAY JOBS” FOR OTHER BUSINESSES WHILE THEY’RE GETTING THEIR NEW BUSINESS STARTED

By , August 26, 2015 4:17 pm

For a new post with a brief but good discussion of the above topic, click on the link below:

http://www.lexology.com/library/detail.aspx?g=5078a883-f271-4ddd-8c39-9a0c5c08e503&utm_source=Lexology+Daily+Newsfeed&utm_medium=HTML+email+-+Body+-+General+section&utm_campaign=Lexology+subscriber+daily+feed&utm_content=Lexology+Daily+Newsfeed+2015-08-12&utm_term=

MEMBER AND MANAGER INDEMNIFICATION

By , August 25, 2015 4:39 pm

Click on link below for new post with brief but good discussion about above topic:

http://www.lexology.com/library/detail.aspx?g=5eeb4345-cf5a-4d4f-bad6-2a1fbb662e06&utm_source=Lexology+Daily+Newsfeed&utm_medium=HTML+email+-+Body+-+General+section&utm_campaign=Lexology+subscriber+daily+feed&utm_content=Lexology+Daily+Newsfeed+2015-08-12&utm_term=

BANKRUPTCY

By , August 24, 2015 4:33 pm

If you’re forming LLCs for your clients, you have to know what is likely to happen to LLCs and their members when the LLCs or one or more members go bankrupt.  For one thing, the answer is likely to involve LLC statutory pick-your-partner provisions and charging order provisions, which are key provisions in any LLC act—and which you and your clients need to understand.

The new blog post under the link below talks about a key issue that often arises when an LLC goes bankrupt.  The blogger is Tom Rutledge, a national leader in the field of LLC law and practice.

http://kentuckybusinessentitylaw.blogspot.com/2015/08/court-holds-that-bankruptcy-trustee.html

LLCS AND CYBERSECURITY

By , August 19, 2015 2:27 pm

The members of LLCs, especially those with significant financial value, must give careful attention to company cybersecurity.  The link below is to a good new post on the general topic of company cybersecurity.

http://www.lexology.com/library/detail.aspx?g=e48d5adc-96e2-4486-a227-08c3567761bf&utm_source=Lexology+Daily+Newsfeed&utm_medium=HTML+email+-+Body+-+General+section&utm_campaign=Lexology+subscriber+daily+feed&utm_content=Lexology+Daily+Newsfeed+2015-08-12&utm_term=

DISCORD BETWEEN MEMBERS OF A TWO-MEMBER LLC

By , August 18, 2015 3:10 pm

This new Peter Mahler post demonstrates the difficulty of resolving disputes between the members of two-member LLCs.  But remember:  70 percent of all LLCs are single-member; 25% are two-member; 5% account for all the rest. Drafting operating agreements for two-member LLCs is a tricky task.

Here’s the post:

http://www.nybusinessdivorce.com/2015/08/articles/grounds-for-dissolution/deadlock-hits-dead-end-in-llc-dissolution-case/#more-14388

CONVERSION FROM SUBCHAPTER C TO SUBCHAPTER S

By , August 17, 2015 2:01 pm

It’s not unheard of for an LLC to elect to be taxable as a C corporation but then to want to convert to a S corporation.  The new post under the link below discusses the conversion:

http://www.taxlawforchb.com/2015/08/c-corp-to-s-corp-it-pays-to-be-the-last-in-and-first-out/?utm_source=Tax+Law+for+the+Closely-Held+Business&utm_medium=email&utm_campaign=92c17b8100-RSS_EMAIL_CAMPAIGN&utm_term=0_4d5d267118-92c17b8100-73367009

LETTERS OF INTENT

By , August 12, 2015 2:10 pm

Often when you form an LLC, you want to first propose operating agreement to the prospective members in the form of a non-binding letter of intent (“LOI”).  Here is a good new post with basic LOI advice:

http://www.lexology.com/library/detail.aspx?g=2dc42fa9-f745-4c6e-b606-474dc0785c45&utm_source=Lexology+Daily+Newsfeed&utm_medium=HTML+email+-+Body+-+General+section&utm_campaign=Lexology+subscriber+daily+feed&utm_content=Lexology+Daily+Newsfeed+2015-08-07&utm_term=

NY TIMES ARTICLE ABOUT IRS HOSTILITY TO FAMILY LIMITED PARTNERSHIPS

By , August 11, 2015 3:04 pm

If you’re interested in the law and taxation of family limited partnerships, you may find this article interesting:

http://www.nytimes.com/2015/08/08/your-money/navigating-tougher-irs-rules-for-family-partnerships.html?_r=1

AMENDMENTS TO DELAWARE ENTITY STATUTES

By , August 7, 2015 3:39 pm

For those of you who form Delaware LLCs and other Delaware entities, here is a good post re the new Delaware amendments to Delaware entity statutes:

http://www.lexology.com/library/detail.aspx?g=9e388310-c142-4763-a754-489fa73237ff&utm_source=Lexology+Daily+Newsfeed&utm_medium=HTML+email+-+Body+-+General+section&utm_campaign=Lexology+subscriber+daily+feed&utm_content=Lexology+Daily+Newsfeed+2015-08-05&utm_term=