Delaware LLC Agreements: Planning and Drafting Approaches

Evaluating and Leveraging the Contractual Flexibility Afforded by the Amended DLLC Act

Recording of a 90-minute CLE webinar with Q&A


Conducted on Wednesday, June 8, 2016

Recorded event now available

or call 1-800-926-7926
Program Materials

This CLE webinar will provide corporate counsel with a review of the advantages and disadvantages of forming LLCs under the Delaware Limited Liability Company Act (DE LLC Act) versus other statutes. The panel will explain the key issues for counsel in planning, negotiating and drafting LLC agreements under the DE LLC Act.

Description

The Delaware LLC Act is the preeminent LLC Act in this country and arguably the most flexible. The body of Delaware LLC case law is extensive and evolving, and the Delaware courts lead the country in deciding business disputes. For these and other reasons, the DE LLC Act is the statute of choice when forming LLCs.

However, forming an LLC under the Act is not for the unprepared. It is a lengthy and complex LLC statute, presenting many pitfalls for attorneys forming Delaware LLCs. Becoming familiar with the terms of the Act and the critical LLC issues not addressed by its terms is key.

Listen as our authoritative panel of Delaware attorneys discusses the advantages of Delaware LLC formation and best practices for drafting LLC agreements under the DE LLC Act.

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Outline

  1. Anatomy of an LLC agreement
  2. Choosing between the DE LLC Act and other LLC Acts when forming LLCs
  3. Taking advantage of the flexibility of the DE LLC Act in forming Delaware LLCs
  4. Avoiding pitfalls in forming Delaware LLCs

Benefits

The panel will review these and other key issues:

  • What main factors should be considered in choosing between formation under the DE LLC Act versus non-Delaware LLC Acts?
  • What are the key opportunities presented by the mandatory, default and permissive provisions of the DE LLC Act?
  • What pitfalls should counsel avoid when forming Delaware LLCs?

Faculty

Michael W. Whittaker
Michael W. Whittaker

Partner
Potter Anderson & Corroon

Mr. Whittaker's practice focuses on commercial, business, general corporate, and contractual transactions. He...  |  Read More

Nathan J. Neuberger
Nathan J. Neuberger

Shareholder
Reinhart Boerner Van Deuren

Mr. Neuberger's practice focuses on corporate law, mergers and acquisitions and private equity. He works with...  |  Read More

Joshua J. Novak
Joshua J. Novak

Director
Richards Layton & Finger

Mr. Novak advises clients and renders legal opinions on a wide range of transactions involving Delaware...  |  Read More

Other Formats
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Strafford will process CLE credit for one person on each recording. All formats include program handouts. To find out which recorded format will provide the best CLE option, select your state:

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