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

Have you heard of the Franchise Rule or the Business Opportunity Rule?

Many of us dream of financial independence and might consider investing in a business opportunity. A promise of no risk and big profits is often indicative of a scheme that could be fraudulent. The Federal Trade Commission (FTC) has two trade regulations to help protect against deceptive business opportunity schemes, the Franchise Rule, and the Business Opportunity Rule. The FTC’s Franchise Rule, when first Read More

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