About LLCs

The LLC is the most popular type of Delaware business formation. In these blogs, we examine all aspects of LLCs, including LLC Operating Agreements.

7 Key Items to Include in Your LLC Operating Agreement By Brett Melson Tuesday, July 24, 2018 7 Key Items to Include in Your LLC Operating AgreementAn LLC Operating Agreement expresses the fundamental understanding among its members of the how the company will operate as well as the members’ respective rights and obligations, including such issues as voting, ownership and management rights... Read More
General Partnership vs Limited Partnership By Devin Scott Tuesday, July 17, 2018 general partnership vs limited partnershipWhen partnering with a company or an individual, it is often important to know exactly what your roles, duties, and liabilities may be. There are two common types of partnerships that often get confused: general partnership and limited partnership... Read More
What is a Series LLC? Should I Form One? By Brett Melson Tuesday, May 8, 2018 What is a series LLC?The Delaware LLC laws allow for the creation of a very interesting and unique entity, the series LLC. In a Delaware series LLC, each series is treated as a separate entity, meaning the debts, liabilities, obligations and expenses of one series cannot be enforced against another series of the LLC, or against the LLC as a whole... Read More
Change of Ownership For an LLC Is Easy in Delaware By Brett Melson Tuesday, March 27, 2018 change of ownership for an llcChange of ownership for an LLC can be complicated and requires costly amendments in most U.S. states. However, not in the state of Delaware. Unlike other states, Delaware requires very little information to be made public in order to form an LLC... Read More
Business Structure: LLC By Andrew Millman Tuesday, February 27, 2018 business structure of an llcA member of an LLC may also function as a manager, but an LLC does not need to have a manager; members can run the company on their own. As for managing-member vs member classifications, it is simple: when a member is also a manager, he or she is usually referred to as a "managing-member.".. Read More
What Is an LLC Operating Agreement? [with templates] By Brett Melson Tuesday, January 30, 2018 what is an llc operating agreementThe Delaware legislature created the limited liability company (LLC) in such a way as to allow the LLC's members the freedom to contract with one another upon whatever terms they deem are best suited to their company... Read More
Form a Delaware LLC Without Names on the Public Record By Brett Melson Monday, December 25, 2017 form a delaware llc without names on the public recordMany people want to know how to file a Delaware LLC confidentially, and how to protect ownership if you file and decide not to list your member's names on your Certificate of Formation. In Delaware, the only document you are required to file in order to create an LLC is a Certificate of Formation... Read More
Delaware LLC Ownership: Units By Andrew Millman Wednesday, December 13, 2017 Delaware LLC Ownership UnitsOne of the key components of the Delaware LLC that makes it so popular is that the ownership, membership, management and operations of the LLC are all handled internally, via the LLC Operating Agreement... Read More
LLC Transfer of Interests [with templates] By Brett Melson Monday, November 27, 2017 transfer interests in an llcIn Delaware, the LLC Operating Agreement spells out all conditions of future sales or transfers. Traditionally, the LLC Operating agreement is amended internally within the LLC only... Read More
How to Add a Series to a Delaware Series LLC By Brett Melson Monday, November 20, 2017 how to add a series to a delaware series llcA Series LLC is a viable option for business owners who operate multiple types of businesses—they can form a separate LLC for each aspect of their business... Read More