More Ways to Protect LLC Owners and Preserve LLC Flexibility
15 Pages Posted: 5 Feb 2018 Last revised: 14 Aug 2019
Date Written: January 26, 2018
This online companion to Protecting LLC Owners While Preserving LLC Flexibility considers several alternative approaches that might unify LLCs’ twin goals of owner protection and governance flexibility. I examine self-regulation, private certification, investor-led market forces, lawyers in their gatekeeping capacity, and mandated disclosure systems. Ultimately, each of these alternatives proves less satisfying than a system that bifurcates LLC law based on the presumed sophistication of LLC owners.
Keywords: LLC, Regulation, Certification, Disclosure, Gatekeepers
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