Issue:
Client is starting a new company with several minority interest holders in the LLC. The Client was concerned about management and voting rights of the various members and how to structure the business including how to handle buyouts if the minority interest holder.
Solution:
We advised them on how to best structure their membership interests (put into two different types of classes for voting and management purposes) and created a clear-cut exit language.
Outcome:
Client was able to get the business set up and running and is now able to avoid costly and significant litigation at the time any minority owner wants to exit the company.
