Real Partnerships and Real Problems: Conforming Business Entity Law to Fiscal Realities and Popular Conceptions

24 Pages Posted: 21 Aug 2004  

Allan Walker Vestal

affiliation not provided to SSRN

Abstract

The limited liability company (LLC) business entity form was adopted by various states over a short period of time and with remarkably little debate as to several key aspects of the reform. The LLC form was adopted without a serious policy debate on the extension of limited liability, without adequate examination of the fiscal impact of adoption, and without a discussion of the dissonance between the LLC form and popular conceptions. The want of a serious debate may open the door to a reworking of the LLC form without protracted debate in an era of state budget crises.

Keywords: Partnerships, Delaware, Journal, Corporate, Law

Suggested Citation

Vestal, Allan Walker, Real Partnerships and Real Problems: Conforming Business Entity Law to Fiscal Realities and Popular Conceptions. Delaware Journal of Corporate Law, Vol. 28, No. 3. Available at SSRN: https://ssrn.com/abstract=578882

Allan Walker Vestal (Contact Author)

affiliation not provided to SSRN

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