Carefully Structure LLCs to Avoid Unintended Consequences
March 15, 2012
In an article for the Daily Journal of Commerce, Justin Denton warns business owners to look closely at default rules when structuring LLCs. These default rules are almost never what owners would choose if they had been aware of them. The best defense is for owners to work with their legal advisers to craft LLC documents that clearly define how the new entity will operate today and down the road when it faces inevitable "life cycle" events.