Corporations have been around since the 17th century, so they are familiar forms of business organization with a well-developed body of law behind them. The limited liability company, on the other hand, did not come into being as we know it until 1977, so it is the new kid on the block. Although we have a uniform act governing limited liability companies, the law is still developing in some respects, including the law related to liability.
This program will explore the fundamental differences between the corporate structure and the limited liability structure and the difference in governance of the two, which differences have significant impact on liability as applied to each.
December 8, 2020
Kenneth A. Sprang, Esq.
October 21, 2020