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
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
A business break-up can be as stressful and emotionally draining as the breakup of a marriage. And there is always a child involved….the business. So when your business partnership has gone bad, you really want to find out where you are standing and what rights you may have vis a vis the other business partners and the business.
I wrote before about getting access to the books and records of an LLC. The same scenario can happen if you are a shareholder in a corporation. The corporation cannot deny you access to its books and records. Access to Corporation’s Books and Records You ask the Corporation for financial information and other documents and … Read More
Picture this: You’ve been happily doing business with your fellow LLC members for some time now. But now, trouble is brewing on the horizon. The other two members are ganging up on you and exclude you from any further business dealings. When you ask to see the LLC’s books, records, bank accounts, tax returns, or … Read More
You are fuming right now about what your business partner is doing to you and/or the business and you are wondering if you should sue your business partner. Before pulling the trigger, understand what lies ahead: Is there a way to negotiate yourself out of this? Going to court should always be the last resort. … Read More