An involuntary transfer of an LLC membership interest is just that—a transfer prompted by a creditor action or the occurrence of a triggering event outside of the member’s control. An individual or entity obtaining a membership interest as a result of an involuntary transfer usually cannot fully step into the shoes of the transferring member.
DetailsYou’ve likely protected your business with general liability coverage, property insurance, commercial automobile coverage, and workers’ compensation insurance. But for some businesses, operations would come to a grinding halt without certain essential contributors—key persons as we call them. If your business includes any key persons, key-person insurance should be a part of your business insurance
DetailsIf you’re a married business owner and you want your business to be taxed as an S corporation, there are several things you need to know. The difference between community property and co-ownership of an asset Let’s take the example of owning a car. If you and your spouse are both on the title to
DetailsFor as long as the Fair Labor Standards Act (FLSA) has governed the rules of employee classification, the confusion surrounding non-exempt and exempt classifications has continued. Although many people generally view “non-exempts” as non-managers and “exempts” as managers, the truth is that there is a fine line between the two. That line often gets employers
DetailsA trade secret is a piece of information which is confidential, can be legally protected, and gives your company a competitive edge. Lots of the most famous examples involve recipes: the formula for Coca Cola, McDonald’s Big Mac “secret sauce”, or that Mrs. Field’s chocolate chip cookie recipe that caused such a legal stir in
DetailsThere are rules and limitations to filing bankruptcy more than once, but it is entirely possible to do so.Depending on the details of the past declaration, you may have to wait to file again to be in compliance with the time limits set by your circumstances. You can file bankruptcy at any time if you did not
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