Practice Tip

ADVICE TO FOUNDERS PLANNING TO SELL THEIR BUSINESSES

The recent post under the link below contains excellent advise for business founders planning for the eventual sale of their businesses. http://www.lexology.com/library/detail.aspx?g=848afe49-2075-446b-ab60-4c5e43496045

HOW TO BILL FOR LEGAL SERVICES

The article under the link below will be of interest not only to LLC lawyers but also to lawyers (and other professionals) in all other fields of practice.  It’s about the continuing primacy of hourly billing over all other forms of billing. Here is the link:  http://www.insidecounsel.com/2016/12/20/the-billable-hour-just-wont-die-report-finds?eNL=58589de3160ba02828d830e0&utm_source=IC_Scoop&utm_medium=EMC-Email_editorial&utm_campaign=12202016

STARTING A BUSINESS WITH FAMILY OR FRIENDS

The new post under the link below discusses the special and sometimes dangerous issues that can arise for new businesses started by friends or by family members.  The post is not specific to LLCs, but my guess is that most LLC lawyers run into this situation frequently.  I do. Here’s the link: http://www.lexology.com/library/detail.aspx?g=10f4c150-f33e-4cd1-b098-e56b8d1131d3&l=7SZNXAF

HOW TO JUDGE A LAWYER’S LLC COMPETENCE

You are starting a new business in the form of an LLC and you want to find a competent lawyer to handle your LLC’s formation.  Your accountant, your friends or your business associates  recommend that you ask lawyer Ann Able to handle the formation, and they give you her telephone number. How should you handle […]

WHAT DOES A NEW LLC LAWYER NEED TO KNOW ABOUT LLC LAW AND TAX?

Assume you’re a young lawyer interested in becoming not just competent but expert as an LLC formation lawyer.  You’re willing to do whatever study is necessary to achieve the necessary knowledge.  What do you need to know, and what know-how do you need, in order to be expert in LLC formation practice?  The short answer […]

NEW BLOG POST ABOUT DATA BREACHES

Our LLC formation clients should be prepared for data breaches, and so should we.  Below is a link to a recent blog post about that risk: http://www.insidecounsel.com/2016/09/28/data-breach-preparation-what-should-a-gc-do-when-d?eNL=57ebbe4d140ba0ee4caaf1e6&utm_source=IC_Scoop&utm_medium=EMC-Email_editorial&utm_campaign=09282016

BUSINESS DISASTER PLANNING

Many large businesses engage in business disaster planning.  See the link below.  Many smaller businesses, including smaller LLCs, might also benefit from this planning. Here’s the link:  http://www.lexology.com/library/detail.aspx?g=6570b578-0fde-4450-9b88-6cf9aae3440d&l=7PHFTQK

SIX PARTS THAT AN OPERATING AGREEMENT FOR A MULTI-MEMBER LLC SHOULD NORMALLY CONTAIN; WHEN TO USE EXHIBITS IN OPERATING AGREEMENTS

An operating agreement for a multi-member LLC should normally have the following six parts in the following order: A properly worded title page; A summary table of contents; A detailed table of contents; A table of exhibits (if the agreement includes one or more exhibits); A “body”—i.e., a part that contains the terms and conditions […]

LLCS AND CYBERSECURITY

The members of LLCs, especially those with significant financial value, must give careful attention to company cybersecurity.  The link below is to a good new post on the general topic of company cybersecurity. http://www.lexology.com/library/detail.aspx?g=e48d5adc-96e2-4486-a227-08c3567761bf&utm_source=Lexology+Daily+Newsfeed&utm_medium=HTML+email+-+Body+-+General+section&utm_campaign=Lexology+subscriber+daily+feed&utm_content=Lexology+Daily+Newsfeed+2015-08-12&utm_term=

UNEXPECTED LOSS OF BUSINESS OWNER

The post under the link below briefly but helpfully discusses how to plan for the unexpected loss of a business owner—meaning, in the case of an LLC, a member. Here’s the link: http://www.lexology.com/library/detail.aspx?g=88dbcb03-551a-4756-8037-62120c0d1e6b&utm_source=Lexology+Daily+Newsfeed&utm_medium=HTML+email+-+Body+-+General+section&utm_campaign=Lexology+subscriber+daily+feed&utm_content=Lexology+Daily+Newsfeed+2015-07-30&utm_term=