LLC

  How to Add a Member to a Delaware LLC A Delaware LLC can make membership changes by following three simple steps: Step 1: Vote On Changes Changing membership in a Delaware LLC starts with existing LLC members holding a vote. Existing members must provide unanimous consent before an ownership transfer can be made. LLC […]

  What Is a Special Purpose Vehicle? A Special Purpose Vehicle, or “SPV”, is a separate LLC established by a parent company to complete a unique business activity or task. Most companies include broad purpose clauses in their corporate bylaws. These clauses basically say the company can undertake any action as long as it is […]

  Do I Need a Lawyer To Set Up a Delaware LLC? Hiring an incorporation lawyer with experience forming and maintaining LLCs is a good way to ensure that your company has a strong legal foundation. For many businesses however, hiring a lawyer is not practical or affordable. How To Set Up an LLC: 5 […]

  What Happens If I Don’t Pay the Delaware Franchise Tax? If a company fails to pay franchise tax, it will eventually lose its good standing status. When an LLC loses good standing status, it also loses its limited liability protections. This exposes members to personal liability they would otherwise not have if they paid […]

  The term “subsidiary” is used often in business, however, you might not know exactly what it means. Subsidiaries are an important part of the legal structure of nearly every large company. In this article, we discuss what subsidiary companies are, how they are used, and the best way to structure them.  What Is a […]

  Why Form a Single Member LLC? Technically, anyone can become a single member LLC. Freelancers, contractors, photographers, and musicians may choose to become a single member LLC to legally separate their professional operations from their personal assets, like their home, car, or savings. In the event of an issue with your business, your personal […]