Limited Liability Company Law

An LLC or limited liability company shares features of corporations and partnerships, including powers and recordkeeping duties. An LLC is treated as a corporation for limited liability purposes but as a general partnership for tax purposes. The owners are called "members." LLC formation requires the members to file a certificate of formation or a similar incorporate llc certificate with Secretary of State where the LLC will operate. An operating agreement governs the LLC's affairs. Access more information here in the LLC limited liability company law practice center.

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Limited Liability Companies Articles
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Ask a Lawyer - Business Law questions answered by leading lawyers
Can My Boss Make Me Babysit His Dog?

Can my boss leave his dog at work and expect his employees to look after it?

California vs. Delaware Corporation?

California vs. Delaware incorporation for a tech start up. What is better and why? The business is located in CA, but service clients nationwide.

Locked Out By Business Partner?

I am 50% owner of a s corp. My business partner has locked me out, opened new bank accounts, sent notice to all customers that I am no longer part of the company, canceled my health insurance.

I have very little savings to get wrapped up in a long legal battle. Yet I can not let this go. Justice needs to be served. This battle started with my confronting him about spending large amounts of company funds to pay his personal bills and personal taxes.

What can I do? Will a attorney take this on a contingency?

Can Owners Put Liens On Assets of Their Own Business?

My father and I started a salon using equity loans taken out on our homes. There is about $40,000 in equipment. Can either one of us place a lien on the equipment for this amount?

Selling a Business Without Continuing Liability?

I own a business and am really wanting to sell. It's too much time away from my family, so the sooner the better. Interested party wanting to buy, but want to pay 20,000 down and 10,000 in 6 months and 8,000 in 3 months after. They can't put business in their name until January, and I still owe on my loan for more than the downpayment. Can this work? I don't want any responsibility after papers are signed and everything out of my name.


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