Delaware LLC Agreements: Planning and Drafting Approaches
Evaluating and Leveraging the Contractual Flexibility Afforded by the Amended DLLC Act
Course Details
- smart_display Format
On-Demand
- signal_cellular_alt Difficulty Level
- work Practice Area
Corporate Law
- event Date
Wednesday, June 8, 2016
- schedule Time
1:00 PM E.T.
- timer Program Length
90 minutes
-
This 90-minute webinar is eligible in most states for 1.5 CLE credits.
-
This CLE course will provide corporate counsel with a review of the advantages and disadvantages of forming LLCs under the Delaware Limited Liability Company Act (DE LLC Act) versus other statutes. The panel will explain the key issues for counsel in planning, negotiating and drafting LLC agreements under the DE LLC Act.
The Delaware LLC Act is the preeminent LLC Act in this country and arguably the most flexible. The body of Delaware LLC case law is extensive and evolving, and the Delaware courts lead the country in deciding business disputes. For these and other reasons, the DE LLC Act is the statute of choice when forming LLCs.
However, forming an LLC under the Act is not for the unprepared. It is a lengthy and complex LLC statute, presenting many pitfalls for attorneys forming Delaware LLCs. Becoming familiar with the terms of the Act and the critical LLC issues not addressed by its terms is key.
Listen as our authoritative panel of Delaware attorneys discusses the advantages of Delaware LLC formation and best practices for drafting LLC agreements under the DE LLC Act.
- Anatomy of an LLC agreement
- Choosing between the DE LLC Act and other LLC Acts when forming LLCs
- Taking advantage of the flexibility of the DE LLC Act in forming Delaware LLCs
- Avoiding pitfalls in forming Delaware LLCs
The panel will review these and other key issues:
- What main factors should be considered in choosing between formation under the DE LLC Act versus non-Delaware LLC Acts?
- What are the key opportunities presented by the mandatory, default and permissive provisions of the DE LLC Act?
- What pitfalls should counsel avoid when forming Delaware LLCs?
