Many business owners familiar with traditional LLCs know that LLCs are controlled by an Operating Agreement. An LLC Operating Agreement is a private contract between an LLC’s members establishing their ownership percentages and management responsibilities in the company. Series LLCs also use Operating Agreements. However, managing a Series LLC the right way requires preparing an […]
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Entries by Matt Dochnal
Since 2019, the State of Delaware has allowed Series LLCs to create what are known as “registered series”. Unlike “protected series”, establishing a registered series requires making an additional public filing. By qualifying as a registered organization, registered series provide certain business benefits that protected series cannot. Establishing a registered series under a Delaware Series […]
The Series LLC originated in Delaware in 1996, and the Diamond State remains the best state to form a Series LLC today. Curious entrepreneurs often ask whether a Delaware Series LLC can operate in other states. More specifically, can a Delaware Series LLC operate in states without laws expressly authorizing Series LLCs? The Series LLC […]
Forming an LLC is an important first step of any business venture. The sooner you choose a legal entity for your business, the sooner you protect yourself from personal liability. If you feel that your business has outgrown its legal structure, you may wonder if you can convert a Delaware LLC into a Series LLC. […]
According to the Bureau of Labor Statistics, 20% of businesses fail in their first year, and only 50% will make it to their fifth year. One of the main reasons businesses fail is inflexibility. You often find inflexibility in a company’s business plan, however, it can also show up in its legal structure. More traditional […]
If you’re a serial entrepreneur looking to maintain multiple businesses or product lines under one entity, you have several options. These include: Forming one LLC and creating multiple trade names for each business. Forming multiple LLCs managed by a Holding Company. Forming a Delaware Series LLC Each of these strategies differ in cost and liability […]
The Delaware Series LLC is often used in sophisticated industries. Examples include regulated finance, real estate investment, and oil field financing. Captive insurance is another application where the Delaware Series LLC has become popular. The captive insurance industry has been able to benefit from using the Delaware Series LLC as a means to separate liability […]
The Delaware Series LLC has become increasingly popular amongst “serial entrepreneurs”. This dynamic business structure offers an efficient way to maintain multiple businesses under one entity roof. Delaware law requires Series LLCs to have a private Operating Agreement to govern the company’s internal affairs. Series LLC owners have complete freedom to customize the legal structure […]
In 2019, the Delaware General Assembly adopted amendments to the state’s Series LLC law allowing for the creation of “registered series”. A Delaware Series LLC is able to establish both registered series and protected series concomitantly. One entity umbrella can house an unlimited number of each series type. The Delaware Registered Series is a giant […]
Serial entrepreneurs often explore multiple business opportunities simultaneously. Did you know that you may not need a whole new LLC to start a new line of business? You can use your current LLC and maintain different lines of business under one entity. This practice is often referred to as forming an Umbrella LLC structure. Using […]