Create An LLC
Maintain An LLC

A corporation’s share structure can ensure that a bad business partner both puts you at greater risk and gets something for nothing. Stay with an LLC to ensure fair distributions of equity and total protection.

In Part 2 of the Limited Liability Company operating agreement, I discuss the way the LLC is different from the partnership or corporation because it is not bound by a lot of case law that imposes fiduciary duties. We assess John Cunningham’s strategy for understanding the LLC Act, and how it helps us to write an effective operating agreement.

Especially useful for small business owners, the LLC can mold to almost any business model.  Most of the concepts explained below are better explained in the STARTright videos available in your member account.  Limited Liability Companies mesh the best parts of the corporation and partnership.
Like anything, an LLC is weak when used in ways it [...]