October 12, 2011

"Key Issues in LLC, LLP and LP Agreements" for Virginia CLE

This event has already occurred.

Using and reusing old agreements? Be wary. Make sure you understand commonly used boilerplate language and its tax consequences. Make sure you understand who all the parties are and their relationships to each other.

Topics covered in this program include:

  • Recognizing the potential for conflict of interest in determining whom you are representing
  • Understanding who your client is and what are the key points that concern your client
  • Understanding that while the person who is younger or has less financial resources initially may appear to be at a disadvantage, that may not be the case
  • Understanding various forms of compensation, ranging from cash, to stock, to interests in pass-through entities, and the importance of one or the other to the particular person
  • Dealing with the “promote” or “profits” interest in an entity
  • Funding a buy-out—including terms of payment and the period for payment
  • Tying ownership to covenants not to compete, not to solicit, and/or not to violate intellectual property rights
  • Dealing with death, permanent disability, or incompetency of a key person
  • Focusing on the use of life insurance for buy-outs, both on death and on permanent disability

This telephone seminar will be replayed Wednesday, October 26. Registration and more information is available on the Virginia CLE website.