Hi, are you a member of a multi-member LLC, wondering what the difference is between a member-managed LLC and a manager-managed LLC? That's a mouthful. I'm Katherine Taylor, the lawyer for business owners, and I'm going to explain the difference. First, to start: a member of an LLC is an owner. ...
Hi, I'm Katherine Taylor, the lawyer for business owners. I've been doing a series on the unintended consequences of certain provisions in LLC operating agreements, and here's another one. Many operating agreements serve as de facto estate-planning documents for an LLC owner's business interest. ...
Hi, I'm Katherine Taylor, the lawyer for business owners. I'm going to be doing a series of videos on the unintended consequences of boilerplate language in LLC operating agreements. That was a long explanation of what these videos are going to be about, but you'll understand if you're an LLC mem...
Hello, I'm Katherine Taylor, the lawyer for business owners. In a previous video, I explained that I would be doing a series of videos about operating agreement provisions. In that earlier video, I discussed what an operating agreement is and why it's important. In this video, I'm going to focus ...
Hi there! I just had a client ask me, “Can I name officers for my LLC?” I'm Katherine Taylor, the lawyer for business owners, and here's the answer I gave. The simple answer is yes. The not-so-simple answer is… yes, but. So what do I mean by that? In most states, including Maryland, there's no ...
Many business owners, just like most people, don't really like to think of what would happen if they were to pass away unexpectedly or become incapacitated. What would happen to their business?
Are you a business owner with one or more partners, and have you ever been in a dispute with them? (By business partner, I mean LLC members or other shareholders of the business and in which you own your interest.) If you have, you know how emotionally exhausting and expensive it can be. If you...
Say you've decided to form a limited liability company, commonly referred to as an "LLC." You've heard that an LLC needs an "operating agreement" in Maryland but you don't know what that means or how to proceed. This article will guide you. The first thing is to be sure...
