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Protecting Your LLC as the Sole Member
By Timothy A. Hoy, Esq. A: First, you should understand Pennsylvania law on the effect of your death on the limited liability company (LLC). Unless you have an operating agreement for the company which says something different, the law provides that the company will cease to exist within 180 days of your death. The law obligates the executor of your estate to wind up the affairs of the company, which generally means liquidating the assets of...
Advantages of Converting a Limited Partnership to an LLC
Two recent changes in Pennsylvania law made it advantageous to convert a limited partnership which owns real estate (and/or other income-producing assets) to a limited liability company. A preferred form of ownership for real estate and other income-producing investments prior to January 1, 2016 was the limited partnership which owns the real estate with a limited liability company (“LLC”) as the general partner. This vehicle accomplished two purposes: one, it avoided the Pennsylvania capital stock...
Will Your Business Be a Victim of Cybersquatting?
by Aaron D. Martin The protection of your company’s online identity is more important than ever before. You need a unique presence to maximize business from online inquiries. Because of the value of a business’s online presence, dishonest competitors will sometimes attempt to improperly divert online search results through “cybersquatting.” Cybersquatting occurs when a business unrelated to yours improperly uses your business name or mark to market itself online to your detriment. It often takes...
Planning for the Future of Your Enterprise
You have a business idea. It may be that you have discovered a unique product or idea (invented or just came upon an opportunity to market some else’s product or idea). Perhaps it is filling a discerned need in your community, say an Italian restaurant or book store, fitness club or any number of other perceived needed facilities in your community. Perhaps it is a real estate opportunity at a unique “ideal” location which you...
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