Imke RatschkoHow can you deal with disagreements between LLC members? Short Answer: you prepare for this scenario in the operating agreement and provide sensible solutions for any disagreement. The long answer: Pick the rights business partners Just like in marriage, it usually does not work out for the long run if you act hastily and pick … Read More
What happens when an LLC member of a multi-member LLC dies….? This must happen frequently now because the New York LLC is an entity created by law 27 years ago, so nature must take its course. You may think that your heirs are automatically entitled to the wealth that you build up over a lifetime … Read More
How much of that LLC do you own, and why does it matter? In other words, how do you determine the ownership percentage interest in an LLC? Why does LLC Ownership Percentage matter? Your LLC ownership percentage gives you power over the LLC and its profits. Either in deciding about important decisions via voting or … Read More
You may have signed a contract for your small business that you really shouldn’t have. Or you are being asked to perform under an agreement and think that such demand is not what you agreed to or just grossly unfair. So you ask yourself, “can I get out of that contract?” What does your Contract … Read More
You may have signed a contract for your small business that you really shouldn’t have. Or you are being asked to perform under an agreement and think that such demand is not what you agreed to or just grossly unfair. So you ask yourself, “can I get out of that contract?” What does your Contract … Read More
Can I withdraw from a New York LLC? Clients are often confused when they see this provision in their operating agreement: A Member may not withdraw from the LLC prior to the dissolution and winding up of the LLC. Or this provision: A Member may withdraw from the Company in accordance with the New York … Read More
LLCs without an Operating Agreement LLC members without an operating agreement may ask themselves, what rules apply to our LLC when we don’t have an operating agreement? Unfortunately, many small business limited liability companies with two or more members do not have an operating agreement. An operating agreement is a document for an LLC that … Read More
