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....
Practice areas & skills: Limited Liability Company (LLC), Corporate & Incorporation, Partnership, Contracts & Agreements, Business
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 Partn...
Practice areas & skills: Limited Liability Company (LLC), Real Estate, Commercial
Christopher L. Messa is a partner in the Corporate/Business Entity Counseling practice group of Berger Harris. Before joining Berger Harris, Chris was an associate in the Commerical Transaction Group at Richards, Layton & Finger, P.A.
Practice areas & skills: Limited Liability Company (LLC), Corporate & Incorporation, Business, Venture Capital, Contracts & Agreements
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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.