A Practical Guide to LLCs (OnDemand)
Originally held on Friday, November 16, 2018 | 9:00 a.m. - 1:00 p.m.
Program Fee:
OnDemand: $249 for Members | $349 for Nonmembers
Members who are Recent Law Graduates, Newly Admitted Lawyers (earliest admission 2016-2018 in any state or country), Judges (and their staff), or attorneys that practice within the Government, Academic or Not-for-Profit sectors attend this program for free.
CLE Credit:
NY: 4.5 Total: 2.0 Skills, 1.5 Professional Practice, 1.0 Ethics
NJ: 4.6 General
CA: 3.5 Total: 3.0 General, 0.5 Professional Responsibility
PA: 3.5 Total: 3.0 General, 0.5 Professional Responsibility
Please Note: Newly admitted NY attorneys cannot fulfill ethics or skills credits through our on-demand programs under OCA rules. For more information on this, please see http://www.nycourts.gov/attorneys/cle/changes_for_2016.shtml.
Description:
In this seminar, an experienced panel will provide a practical
introduction to LLCs. The panel will compare the LLC structure to
corporations (including S corporations), partnerships and sole
proprietorships, citing the advantages and disadvantages of each such
structure and how such advantages and disadvantages can shape one's
choice-of-entity decision. Speakers will walk through the mechanics of
forming an LLC, including drafting the basic operating agreement.
Working from actual operating agreements, panelists will review
managerial, voting, governance and control structures (including
consents and tie-breaker arrangements), typical as well as unusual
capital structures (including preferred interests, profits interests and
multi-class interests) and buy-outs and exit strategies (including
drag-alongs and tag-alongs and buy-outs upon death). The discussion will
include the use of equity-based incentive compensation arrangements in
the context of an LLC and compare them to traditional corporate stock
option plans. Throughout its presentation, the panel will highlight tax
issues and benefits that arise from the utilization of LLCs, discuss new
developments in the area of LLC law and provide real-world examples of
the use of LLCs in specific businesses and contexts.
Click Here to View Program Agenda & Faculty
Program Chair:
Stella Lellos, Rivkin Radler LLP