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Hogan Lovells

The Emperor has no clothes: Privy Council strips down the Shareholder Rule and Hong Kong watches

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The Shareholder Rule is a legal doctrine under which a company is generally precluded from asserting legal professional privilege to withhold documents from a shareholder in the course of litigation involving both the company...more

Roetzel & Andress

What’s in Your Operating Agreement? Legal Tips for Healthcare Providers

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This week on the HealthLawHotSpot, host Ericka Adler welcomes Roetzel shareholder Jonna Eimer to discuss the essential role of operating agreements in healthcare practices. Whether you're starting a new practice or reviewing...more

ArentFox Schiff

Court Upholds Gilks’ Trade Secrets in Fly Boatworks Dispute

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This case is an important reminder that in trade secrets litigation, the specific business context is critically important and may be outcome determinative. Here, a closely held business was held to a much more lenient...more

Foley Hoag LLP

Choosing your State of Incorporation

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In the wake of headline-grabbing redomiciles many executives are reevaluating whether to form or maintain their companies in Delaware or to look instead to other jurisdictions such as Nevada and Texas. In this piece, we break...more

Patton Sullivan Brodehl LLP

Another LLC Attorney Disqualified Due to “Conflict of Authority”

A prior LLC Jungle post covered the Court of Appeal’s seminal opinion in the Jarvis v. Jarvis case here: Why Having “Co-Managers” for Your LLC is a Terrible Idea. In the Jarvis case, the Court of Appeal affirmed the...more

Freeman Law

Third-Party Beneficiary Rights Under Texas Nonprofit Corporation Charter

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On June 27, 2025, the Texas Supreme Court rendered a 32-page opinion in the case of Southern Methodist Univer. v. South Central Jurisdictional Conference of the United Methodist Church, No. 23-0703, __ S.W.3d __ (Tex. June...more

Hendershot Cowart P.C.

Texas LLCs, Corporations: Act Now to Secure New Business Protections from 2025 Legislative Reforms

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Major changes to Texas Business Organizations Code enacted during this summer’s legislative session provide unprecedented protection for management decisions and business disputes – but only if you amend your governing...more

Butler Snow LLP

Veil Piercing, Revisited

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In 2020, when we last blogged on corporate veil piercing in Tennessee, we matter-of-factly said, “[t]he law in Tennessee on ‘piercing the corporate veil’ has not substantially changed” since previous blogs. Well, that’s no...more

Jackson Walker

Texas Business Court Denies Severance in Multi-LLC Dispute—Signals Broad View of Jurisdiction

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In a recent decision out of the Texas Business Court’s Eleventh Division—Kassam v. Dosani, Cause No. 24-BC11A-0021—the court refused to let defendants fracture a complex business dispute into smaller pieces. The result? A...more

Morris James LLP

Chancery Upholds Expulsion of LLC Investor, Awards Fees and Expenses Caused by Breach

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PJT Holdings, LLC v. Costanzo, C.A. No. 2023-0665-JTL (Del. Ch. May 15, 2025) - In anticipation of launching a chain of restaurants, three restaurant operators joined an outside investor to form a four-member,...more

Davidoff Hutcher & Citron LLP

Enforcing Operating Agreements in Restaurant LLCs: Common Pitfalls and Solutions

A well-drafted Operating Agreement is crucial for restaurant LLCs, setting clear rules for ownership, management, and dispute resolution. However, even the best agreements can become a source of conflict if not properly...more

Davidoff Hutcher & Citron LLP

Why Restaurant Owners Need Asset Protection Strategies

Running a restaurant comes with financial risks, including lawsuits, creditor claims, and unforeseen business downturns. Without proper asset protection strategies, restaurant owners may expose their personal wealth and...more

Jackson Walker

Texas Business Court Asserts Jurisdiction in $95 Million Texas Lottery Dispute

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A recent decision from the Texas Business Court, Reed v. Rook TX, LP, centers on a dramatic claim: Jerry Reed, who “won a $7.5 million Lotto Texas jackpot in May 2023,” alleges that “his winnings would have been $95 million...more

Husch Blackwell LLP

Recent Changes to Texas Corporate Laws Could Make the State a More Attractive Choice for Entity Formation and Re-domestication of...

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The Texas legislature concluded its 89th Regular Session on June 2, 2025. During the session, the energy industry paid significant attention to legislative actions impacting the power industry in the areas of grid management,...more

Hendershot Cowart P.C.

Shielding Your Assets: How Texas LLC Owners Can Protect Against Veil-Piercing Claims

As a Texas LLC owner, member, or manager, you've made a strategic choice to separate your business and personal finances through a limited liability company structure. This critical legal barrier provides valuable protection,...more

Patton Sullivan Brodehl LLP

What if an LLC’s Books and Records Contain Trade Secrets?

One of the most important rights owned by LLC members is the right to inspect the LLC’s books and records. For an overview of LLC books and records requests, see the prior LLC Jungle post: Why LLC Managers Should Take Member...more

Conyers

BVI Court of Appeal Upholds Directors' Right to Inspect Company Documents, Including Litigation Funding Details

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In a recent decision, the Eastern Caribbean Supreme Courts’ Court of Appeal reaffirmed the statutory rights of directors under the BVI Business Companies Act, 2004 (the “BCA”) to inspect company documents, including...more

Robins Kaplan LLP

Avoiding a Tragic End to a Fiduciary Relationship

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Blockbuster movies follow varied plotlines—some tragic, some heartwarming, some a mix. Often they are based on human dramas. In the real world, fiduciary relationships can set the proverbial stage for unwelcomed high drama,...more

Wiley Rein LLP

Coverage Barred by Prior Acts Exclusion Under First Policy; No Coverage Under Second Policy Because Defendant did not Qualify as...

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The United States District Court for the District of New Mexico, applying New Mexico law, has held that a prior acts exclusion in a directors and officers policy barred coverage for an investor lawsuit alleging a scheme to...more

Brownstein Hyatt Farber Schreck

Nevada Enacts Corporate Legislation and Advances Dedicated Business Court

Continuing its tradition of bipartisan, thoughtful development of corporate laws and fostering an atmosphere supportive of responsible businesses, the Nevada Legislature has approved—and Gov. Joe Lombardo has signed—Assembly...more

Husch Blackwell LLP

Major Changes in the Jurisdictional Laws in Illinois

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Senate Bill 328, as amended, makes significant changes to the law governing jurisdiction in Illinois, which would change Illinois from a specific jurisdiction state to a general jurisdiction state for actions that allege...more

Farrell Fritz, P.C.

Retirement of Working Owners of Closely Held Business Entities: What’s Your Plan?

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It’s a fact that the great majority of multi-owner, closely held business entities are run by working owners. In many if not most instances the working owners realize the financial benefits of ownership primarily in the form...more

Nossaman LLP

Corporate Divorce – Preventing and Managing the Break-Up of a Business Partnership

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In this episode, Kimberly Kamkar is joined by corporate law partners Patrick Richard, Anna Tang and Doug Schwartz to explore the complexities of business "break-ups." They discuss essential practices for future planning, the...more

Allen Matkins

Is An LLC's Membership List A Trade Secret?

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Yesterday's post considered one of several matters raised on appeal in Perry v. Stuart, 2025 WL 1501935.   The case involves a former member's demand for inspection of records of a California limited liability company. ...more

Weintraub Tobin

Navigating Business Interests as a Fiduciary in California

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Administering a trust or probate estate is challenging enough—but what happens when you, as a private professional fiduciary, are tasked with managing a business interest? Whether you’re a professional trustee, conservator,...more

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