I am a member of the Delaware Bar Association's Alternative Entity Committee which... more
I am a member of the Delaware Bar Association's Alternative Entity Committee which is responsible for reccomending to the Delaware Legislature annual updates to the Delaware Limited Liability Company Act, the Delaware Revised Uniform Limited Partnership Act and the Delaware Partnership Act. I am also a member the the American Bar Association's Business Laws Section, Committees on Limited Liabil... view profile
Michelle P. Quinn is a partner in the Corporate/Business Entity Counseling practice... more
Michelle P. Quinn is a partner in the Corporate/Business Entity Counseling practice group of Berger Harris . Her practice focuses primarily on rendering advice as to matters of Delaware law relating to partnerships and limited liability companies. Michelle has extensive experience in rendering advice and legal opinions in a wide variety of transactions involving Delaware partnerships and limite... view profile
Creating a limited liability company, or LLC, is one of several ways to structure a business. The other choices are general, limited, or limited liability partnerships. A shareholder in an LLC is not personally liable for any of the debts of the company, other than for the money they invested in that company. In a general partnership, all partners manage the business and are personally liable for its debts. In limited partnerships, partners' liability is limited and they have no voice in the decision-making. And in a limited liability partnership (LLP), all partners have some degree of limited liability. A lawyer with LLC experience can help you determine if forming an LLC is advantageous and appropriate for your business. If you decide to form an LLC, the attorney can draft the paperwork you need to formalize your choice, including provisions for management, ownership transfers, and profit and loss distributions.