When entering into an LLC operating agreement, there are many important factors and issues that must be taken into consideration. Because under Delaware law, LLCs are “creatures of contract,” and
Continue Reading LLC Operating Agreements: Top 10 List of Material Terms
operating agreement
Member of Delaware LLC Not Precluded from Withdrawing and Competing with Business
By Fox Rothschild LLP on
In certain instances, a member of a Delaware LLC may not find it desirable to continue doing business with the other members of the company. This can be the result…
Continue Reading Member of Delaware LLC Not Precluded from Withdrawing and Competing with Business
Court Reinforces Notion of Contractual Freedom of LLC Operating Agreements
By Fox Rothschild LLP on
In the matter of Paul v. Delaware Coastal Anesthesia, C.A. No. 7084-VCG (Del. Ch. May 29, 2012), the Court of Chancery examined whether the language of an LLC agreement…
Continue Reading Court Reinforces Notion of Contractual Freedom of LLC Operating Agreements
Court of Chancery Interprets LLC Operating Agreement To Determine Distribution Made To Retired Member
By Fox Rothschild LLP on
In the case of Glenn B. Showell v. William H. Pusey, et al., C.A. No. 3970-VCG (Del. Ch., Sept. 1, 2011), the Court of Chancery construed the provisions of…