What are options one has when in dispute with another member of the limited liability company (LLC) or when you have an ownership interest in a corporation?

Governing documents of an LLC, the “operating agreement,” should provide detailed information on how most ownership disputes within the business should be dealt with by a fellow member.  An operating agreement should identify the responsibilities of each member and the first course of action to be taken to resolve a dispute. Alternatively, an operating agreement may provide that the members are not liable to each Read More

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