Deepen your understanding of the complexities surrounding fiduciary duties.
Attending this presentation on fiduciary duties owed by LLC members provides invaluable insights into the ethical and legal standards that govern business relationships within limited liability companies. Participants will gain a clear understanding of key fiduciary duties, including the duty of loyalty and duty of care, and the potential consequences of breaches, such as legal liabilities and loss of trust among members. The session emphasizes the importance of compliance through best practices like transparency, documentation, and legal counsel, ensuring that LLC members are well-equipped to protect their interests and those of the business. By engaging in a Q&A session, attendees can address specific concerns and deepen their understanding of the complexities surrounding fiduciary duties, ultimately fostering a more trustworthy and effective business environment.
Learning Objectives
- You will be able to define LLC and the structure of an LLC.
- You will be able to describe the importance of fiduciary duties in business relationships.
- You will be able to explain the difference between the duty of loyalty and the duty of care, and understand their specific applications within LLCs.
- You will be able to identify dentify examples of breaches of the duty of care and their consequences.
Agenda
Introduction
- Definition of LLC
- Importance of Fiduciary Duties in Business Relationships
- General Overview of the Presentation
Understanding Fiduciary Duties
- Definition of Fiduciary Duty
- Key Fiduciary Duties for LLCs
Duty of Loyalty
- Explanation of the Duty of Loyalty
- Examples of Breaches of the Duty of Loyalty
- Remedies for the Breach of the Duty of Loyalty
Duty of Care
- Explanation of the Duty of Care
- Examples of Breaches of the Duty of Care
- Remedies for the Breach of the Duty of Care
Individuals That Owe These Duties
- Members
- Managers
Practical Implications for LLC Members
- Best Practices for Compliance With Fiduciary Duties
- Importance of Seeking Legal Advice
Conclusion
- Recap the Key Points
- Recap the Role of Fiduciary Duties in Maintaining Trust and Integrity in LLCs
- Re-Encourage a Review of Operating Agreements and for Individuals to Seek Legal Counsel
Question and Answer Session
Additional Resources
- Recommended Readings on Fiduciary Duties in LLCs
- Contact Information for Further Inquiries
Speakers
Michael J. Anthony, Esq.,
Anthony Law Offices LLC- Managing Attorney at Anthony Law Offices LLC
- Areas of practice include small business, business litigation, general business counsel, contracts and negotiations, commercial transactions, commercial leasing, trade secrets, joint ventures, commercial and investment real estate, limited liability company law (LLCs), and entrepreneur law
- Professional associations and memberships include the Columbus Bar Association; Lawrence Funderburke Youth Organization, board member and legal counsel and small business advocate, editor
- J.D. degree, cum laude, Capital University Law School; B.A. degree, in history, Cederville University
- Can be contacted at mja@anthonylawllc.com or https://www.anthonylawllc.com/attorney/anthony-corporate-real-estate-lawyer
Vincent P. Zuccaro,
Anthony Law, LLC- Attorney at Anthony Law, LLC
- Anthony Law focuses in the areas of business litigation, real estate and construction and general corporate law
- Practice is devoted almost exclusively to litigation at both trial and appellate levels
- Represents clients on business-related disputes encompassing fraud, breach of contract, consumer protection, professional negligence, and fiduciary disputes among business partners
- Has helped numerous individuals and organizations navigate the complexities of the legal system and achieve favorable outcomes
- J.D. degree, The Ohio State University Moritz College of Law; B.A. degree in finance, University of Notre Dame
Who Should Attend
This live webinar is designed for accountants, CPAs, CEOs, presidents, vice presidents, CFOs, controllers, business owners and managers, bookkeepers, tax preparers, and attorneys.
