Owning an LLC with another person (or people) is a big commitment, there’s no doubt about that. But owning an LLC with another person is not necessarily a ’til death do we part’ situation. LLCs fold, they merge into other companies, they become another entity altogether. But sometimes they just change internally – like when
Hey everybody! So we talked last week about what happens when you own property in tandem with another person. Commonly, this takes place when you get married – whats mine is yours, figuratively and legally. But even in marriage owning things like a share of an LLC together isn’t always that simple. In fact, there’s
So let’s say that you’ve filed your articles of organization, you’ve gotten your Operating Agreement (good job!) and started operations for your business as a dog toy company, called “Dog-Toys ‘R’ Us.” In your first two years, your new limited liability company (LLC) does so well that you decide to expand into toys for cats,
Hello people of 2013! As we refresh the new year we thought it’d be a good time to refresh the basics of business structures. We go on and on about how Limited Liability Companies (LLCs) are so very good. And while this is true, we sometimes gloss over what makes them so fantastic a choice.
Hello and happy holidays once again. As you may have noticed at one time or another, we talk a lot on here about Operating Agreements for Limited Liability Corporations (LLCs). Heck, we even sell the things. You’ll see in regards to Operating Agreements, there’s a lot of talk about “contributions.” Without fail, for a person
Greetings, fair DocRun blog readers! Like your mother telling you to wear a seat belt, we have a long history of telling you how important it is to get an Operating Agreement (OA). So you go to DocRun and you get yourself an Operating Agreement. What then? Well, that’s just something we haven’t talked a
As a business owner, and more specifically as a member of an LLC, you might decide at some point to cash out. You can sell out completely, and take your money or whatever else you get in return for your membership interest to Acapulco and say adios. But perhaps you only want to sell a
Family LLCs are a great way to gain a little liability protection to your family. And one variant of this entity is called the “husband and wife” LLC, which is pretty self-explanatory: it’s made up of spouses. So, you would assume it means it’s always made up of those tow people. But sometimes, it’s a
As you regular readers of DocRun and Roll can tell, we like to talk about LLCs around here. And with good reason! In terms of offering flexibility, liability protection, and superior organization, LLCs make for a fantastic choice for your business. We’ve talked about a lot of different kinds of LLCs: Series, Professional, Low-Profit. These
When members of an LLC ‘dissociate’ (AKA quit, either by retiring, moving or spontaneously combusting/otherwise dying) it can pose tricky problems if the LLC isn’t set up to handle it. The members will almost certainly have to go to court, or at least engage in some protracted negotiations just to figure out what could have
