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.

Business License or LLC? Which Comes First? By Michael Kupfer Tuesday, October 15, 2019 Obtaining a business license is not the same as forming an LLC or other legal entity for your business. Whereas the license approves your specific business in a certain jurisdiction, an LLC provides an official, legally-recognized business structure... Read More
Creating an Operating Agreement for Your Band By Michael Kupfer Monday, May 20, 2019 One of the most common and straightforward ways to define the structure is to form an LLC for the band. Forming the company means creating an LLC Operating Agreement, which allows the band to formalize roles and responsibilities of its members... Read More
LLC Change of Ownership Checklist By Brett Melson Monday, April 29, 2019 Members of an LLC may change the LLC’s ownership and the terms governing its management and operation by amending its operating agreement. Here are five parties you’ll want to inform when you do so to avoid putting your company at any undue risk... Read More
Delaware LLC Ownership Units By Andrew Millman Monday, April 15, 2019 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
What Does an LLC Operating Agreement Do? By Andrew Millman Monday, March 4, 2019 An LLC Operating Agreement covers many aspects of the LLCs structure, including ownership, membership, management, day-to-day responsibilities and more. Learn more about this important document and what aspects of the LLC it governs... Read More
Who Can Be a Member of an LLC? By Andrew Millman Tuesday, November 27, 2018 who can be a member of an llcAnyone in the world can be a member of a Delaware LLC or corporation. Generally, the members of an LLC are individuals, but it doesn’t stop there. Many people opt to set up the Delaware LLC with another company as the member. This can be a corporation, LP or even another Delaware LLC... Read More
LLC Transfer of Interests [with templates] By Brett Melson Tuesday, November 20, 2018 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
Delaware LLC Requirements to Get a Federal Tax ID By Brett Melson Tuesday, October 2, 2018 How to Get a Tax ID Number for a Delaware LLCOnce a Delaware LLC has its Certificate of Formation stamped and approved by the state of Delaware, the next step is to obtain a Federal Tax ID Number, also known as an EIN, from the IRS... Read More
Operating Multiple Businesses Under One LLC By HBS Tuesday, September 18, 2018 Can I operate multiple businesses under one LLC?It is possible and permissible to operate multiple businesses under one LLC. Many entrepreneurs who opt to do this use what is called a "Fictitious Name Statement" or a "DBA" (also known as a "Doing Dusiness As") to operate an additional business under a different name... Read More
The Structure of the Limited Liability Company By Rick Bell 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