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Paul Hastings LLP

Nevada Court Finds Business Judgment Rule Applies to Nevada LLCs

Paul Hastings LLP on

The Nevada District Court recently clarified that the business judgment rule — a fundamental corporate law protection — applies to limited liability companies when their operating agreements specify fiduciary duties. The...more

Ward and Smith, P.A.

NC Business Court Clarifies Exception to Rule that LLC Members Do NOT Owe Fiduciary Duties to One Another

Ward and Smith, P.A. on

One of the hallmarks of limited liability companies ("LLCs") is that members of an LLC ordinarily do not owe fiduciary duties to each other or to the company itself.  Generally speaking, a fiduciary duty is an obligation...more

Brooks Pierce

Is It Better To Be A LLC Member In The Minority Than A Minority Corporate Shareholder?

Brooks Pierce on

It is pretty common to think that limited liability company members have similar rights as shareholders in a corporation. But they don't, (although in some respects the rights afforded to LLC members may be better). The...more

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