Topic
Operating Agreement
81 published works
Rush on Business
Five Legal Ideas to Review Before Monday
By Rush Nigut
It's almost 5:00 pm on a Friday. Thought I'd share five things you can check on by Monday to improve the legal protection of your business. Is your operating agreement…
Canna Law Blog
Why Cannabis LLCs Need Operating Agreements
Cannabis businesses are usually structured as limited liability companies (LLCs)—and for good reason. LLCs offer far more flexibility than corporations, which are bound by rigid governance rules. To take advantage…
New York Business Divorce
I’ll Have a Bacon Cheeseburger, Hold the Pickle and LLC Dissolution
On the menu in this week's New York Business Divorce is a case about a restaurant menu, literally, and the disputed changes to it made by a 50% member of…
It's Just Business
A(nother) Cautionary Tale on the Importance of Operating Agreements
By Jeff MacHarg and Camryn Rohr To practitioners familiar with internal disputes involving closely held companies, the allegations in Lafayette Village Pub, LLC v. Burnham, 2025 NCBC 8, are nothing…
New York Business Divorce
The Little Buy-Sell That Could
The irony of litigation over buy-sell agreements is that such agreements are specifically intended to avoid litigation when owners die or become disabled or otherwise seek to exit the firm.…
New York Business Divorce
A Leaf Through a Busy November in New York LLC Litigation
November was a whirlwind month for New York LLC litigation. It featured disputes over how to wind up a judicially dissolved LLC, a bitter intra-family emergency indemnification/advancement injunction, and the…
New York Business Divorce
Is an LLC Bound by its Own Operating Agreement?
This week in New York Business Divorce, read how a New York LLC can successfully evade an arbitration provision in its own operating agreement.
California Corporate & Securities Law Blog
Is Failing To Hold A Formal Board Meeting A Breach of Contract?
In yesterday's post, I discussed Tuli v. Specialty Surgical Center of Thousand Oaks, LLC, 2024 WL 4499271 (Oct. 16, 2024) and whether alleged personal animosity vitiated application of the business judgment…
King Business and Patent Law Blog
Why Do You Need an Operating Agreement for Your LLC?
By Julie King
Why do you need an operating agreement for an LLC? An operating agreement is not required by law in Illinois, but you’re doing yourself a disservice not having one. They’re…
New York Business Divorce
Dissolution Defined: The First Department’s Recent Guidance on Interpreting Operating Agreements
How does the First Department tackle competing interpretations of an LLC operating agreement? This week’s post explains.