by Howard C. Stross | Jun 9, 2025 | Business Law, Business Succession Planning, LLC, Small Business
This article is part of our ongoing series on overlooked but essential elements of a limited liability company (LLC) operating agreement. When forming an LLC, many business owners fall into one of two categories: They do not create an operating agreement at all, or... 
by Howard C. Stross | Apr 23, 2025 | Business Law, Buying and Selling a Business, Small Business
In a public corporation, shareholders can sell company stock at the current market price at any time. However, selling shares in a privately-held corporation is more complicated because the shares cannot be sold to the general public. Typically, shareholder agreements... 
by Howard C. Stross | Feb 12, 2025 | Asset Protection, Business Law, Business Succession Planning, LLC, Small Business
When setting up an LLC, many business owners overlook key parts of their operating agreement. The LLC Operating Agreement is a document that serves as the foundation of your LLC’s internal operations, yet common gaps can leave you vulnerable to legal disputes and... 
by Howard C. Stross | Jan 29, 2025 | Business Law, Business Succession Planning, LLC, Small Business
This is the first in a series of business law articles that will discuss overlooked topics that many LLC operating agreements do not include or, if included, do not clearly explain the topic. These omissions can lead to disputes among members, confusion about what... 
by Howard C. Stross | Dec 3, 2024 | Asset Protection, Business Law, Business Succession Planning, Buying and Selling a Business, Small Business
A Shareholder Agreement is important if you own shares of a corporation (also called “stock”) along with one or more other owners of shares (called “shareholders”). If the shares of stock you own are shares of a publicly-traded company, you can sell those shares as... 
by Howard C. Stross | Mar 22, 2023 | Business Law, Commercial Real Estate, LLC, Small Business
Before you become a “minority” owner of a business, here’s what to consider… A business is “closely-held” when ownership is severely limited and those limitations extend to an owner’s ability to withdraw their investment and “retire”. A...
