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I have practiced business law and alternative dispute resolution (ADR) for over twenty-five years. As a business attorney, I assist businesses with formation and planning; purchases and sales of existing businesses; termination of business entiti...
Practice areas: Limited Liability Company (LLC), Corporate & Incorporation, Franchising, Business, Partnership
Areas of Practice Jonathan Axelrad is a partner in the firm’s Business Law Department and a member of the Private Investment Funds Practice. He joined Goodwin Procter in 2007. Work for Clients Mr. Axelrad specializes in all aspects of the...
Practice areas: Limited Liability Company (LLC), Venture Capital, Tax, Financial Markets and Services
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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.