- Have all lawyers in the room stand - give round of applause, be proud!
- All smart - chose this session instead of aircraft demos at aviation law session next door
- If new attorney, sit down… all new lawyers, introduce yourself to exp. lawyer
- One more round of applause
- Sit down
- My name is… and I’m a lawyer
- Solo in Columbus, former chair of YLS
- In practice, exclusively work with small biz - lots of biz formations, Ks, sales, advising
- Also help lawyers looking to start up practice, including through CBA
- Please ask questions throughout - hashtag if live-tweeting
- Have some bad news [pause] *CLICK
- Talk about how properly set up new biz, better job than LZ
- 3 steps to set up: advising on *CLICK* biz structure, *CLICK* entity selection, *CLICK* ops and management
- If four equal members, each can have 25% ownership, or 25 membership interests
- % traditional p-ship way - way most LLCs are set up
- If more like corp, use units - like shares of stock, can be helpful a lot of members, or to buy/sell interest
- If four equal members, each can have 25% ownership, or 25 membership interests
- % traditional p-ship way - way most LLCs are set up
- If more like corp, use units - like shares of stock, can be helpful a lot of members, or to buy/sell interest
- If four equal members, each can have 25% ownership, or 25 membership interests
- % traditional p-ship way - way most LLCs are set up
- If more like corp, use units - like shares of stock, can be helpful a lot of members, or to buy/sell interest
- If four equal members, each can have 25% ownership, or 25 membership interests
- % traditional p-ship way - way most LLCs are set up
- If more like corp, use units - like shares of stock, can be helpful a lot of members, or to buy/sell interest
- If four equal members, each can have 25% ownership, or 25 membership interests
- % traditional p-ship way - way most LLCs are set up
- If more like corp, use units - like shares of stock, can be helpful a lot of members, or to buy/sell interest
- If four equal members, each can have 25% ownership, or 25 membership interests
- % traditional p-ship way - way most LLCs are set up
- If more like corp, use units - like shares of stock, can be helpful a lot of members, or to buy/sell interest
- Talk about how properly set up new biz, better job than LZ
- 3 steps to set up: advising on *CLICK* biz structure, *CLICK* entity selection, *CLICK* ops and management
- If four equal members, each can have 25% ownership, or 25 membership interests
- % traditional p-ship way - way most LLCs are set up
- If more like corp, use units - like shares of stock, can be helpful a lot of members, or to buy/sell interest
- Why would you want manager-managed?
- *CLICK* big reason is to limit power of who can run biz - some people shouldn’t able to bind comp, let along walk with scissors in their hand
- *CLICK* some members want to be passive - not worry about day-to-day ops
- *CLICK* can have non-member managers - can bring in outside manager, make sure restrictions in place on power
- *CLICK* biz gives equity to EEs, EE has authority to act on behalf of comp - don’t want janitor signing checks
- *CLICK* if owners want manager-managed in future, can set all current members as managers
- Default member, so need in OA - also put restrictions and replace, rogue manager can’t remove — FOR REST WILL BE GOING QUICKER, STOP IF WANT
- Why would you want manager-managed?
- *CLICK* big reason is to limit power of who can run biz - some people shouldn’t able to bind comp, let along walk with scissors in their hand
- *CLICK* some members want to be passive - not worry about day-to-day ops
- *CLICK* can have non-member managers - can bring in outside manager, make sure restrictions in place on power
- *CLICK* biz gives equity to EEs, EE has authority to act on behalf of comp - don’t want janitor signing checks
- *CLICK* if owners want manager-managed in future, can set all current members as managers
- Default member, so need in OA - also put restrictions and replace, rogue manager can’t remove — FOR REST WILL BE GOING QUICKER, STOP IF WANT
