There is no such thing as a Limited Liability Corporation

There is no such thing as a Limited Liability Corporation.  Sure, corporations to an extent enjoy limited liability, but that does not make them limited liability corporations -- corporations are just corporations.  The LLC designation actually stands for limited liability company, i.e. the LLC, and confusing company with corporation is legally incorrect. This may seem rather self-evident, but I get alerts from Google Scholar every time a judicial opinion, or order, uses the words "limited liability corporation," and I am alerted nearly every single day with multiple examples. In fairness to the court, however, most of the time (but not always!) [...]

By |February 20th, 2019|Categories: Asset Protection|Tags: , , , |

Consider An LLC With A Board of Directors

It certainly isn't commonplace to think of the limited liability company (hereinafter "LLC") as having a board of directors.  In fact, it may be that most individuals, upon hearing the words "board of directors," immediately assume the topic of conversation revolves around the action of some corporation.  In other words, it might be thought that having a board of directors is exclusively reserved to corporations, and not LLCs. I'll take the liberty and cut through your anticipation: they are not.  By way of introduction, all business entities are persons under the law by means of the contracts that create them. For example, the LLC [...]

By |November 10th, 2015|Categories: Asset Protection|Tags: , , , , |
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