Piercing the Single Member LLC (On-Demand)


Are single member LLCs more likely to lose the shield of limited liability than other types of entities such as multi-member LLCs, corporations, or LLPs?  LLCs are well-established as the entity of choice for many types of businesses, ranging from hospitality to real estate.  Entrepreneurs prize the flexibility of LLCs with regard to taxes, management, and formalities.  Courts increasingly have looked to the law of corporate veil-piercing to guide their reasoning when they assess liability against LLCs and potentially their members.  The law of piercing is fairly consistent across jurisdictions; the application of that law differs widely, especially as it concerns single-member LLCs.  In this course, we will cover how to set up and operate a single member LLC to avoid exposure of the member to liability, and how to address attacks on limited liability by creditors.  We will also address how and why creditor might pierce the veil of a single-member LLC.

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