LLC Operating Agreements: Reinforcing the corporate veil

Brandon M. Schwartz
Brandon M. Schwartz
Schwartz Law Firm

Mr. Schwartz is a Board Certified Civil Specialists by the Minnesota State Bar Association, a Board Certified Civil Trial Advocate and Family Trial Law Advocate by the National Board of Trial Advocacy, and has received recognition from peers and clients alike for his thorough, zealous, and ethical representation.

Jon L. Farnsworth
Jon L. Farnsworth
Spencer Fane LLP

Jon Farnsworth assists clients with all aspects of business and technology law, from mergers and acquisitions, brand and intellectual property rights protection, and digital transformations, including cloud software environments.

On-Demand: June 14, 2022

LLC Operating Agreements: Reinforcing the corporate veil

$245.00 3 hour CLE

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Program Summary

Session I - Reinforce the Limited Liability Company Veil – Brandon M. Schwartz

This CLE will discuss how to best reinforce the limited liability company veil. The veil is meant to protect business owners from the judgments or debts of the business. When operated properly, the veil is strong and a primary reason for operating in the limited liability company form.

In this particular webinar, you will learn what courts look to when piercing the corporate veil. By reviewing recent case law, the prudent business owner will avoid the factors utilized to pierce the veil.

Key topics to be discussed:

  • Maintaining proper record keeping
  • Avoiding commingling of assets
  • Acting in accordance with the governing documents
  • Treating the entity as separate and distinct from the owners

Session II - LLC Operating Agreement Provisions – Jon L. Farnsworth

Many business owners fail to realize that simple planning and small tweaks to operations can greatly protect them from personal liability for corporate liabilities. In this program, you will learn how to reduce exposure with enhancing operating agreement text.

Key topics to be discussed:

  • Review veil piercing case law
  • Learn steps to reduce the appearance of impropriety
  • Get drafting tips for your operating agreements
  • Learn best practices for reducing risk when doing daily business
  • Legal Ethics for Business Attorneys

Date: June 14, 2022

Closed-captioning available

Speakers

Brandon-M.-Schwartz_Schwartz-Law-Firm_myLawCLEBrandon M. Schwartz | Schwartz Law Firm

Mr. Schwartz is a Board Certified Civil Specialists by the Minnesota State Bar Association, a Board Certified Civil Trial Advocate and Family Trial Law Advocate by the National Board of Trial Advocacy, and has received recognition from peers and clients alike for his thorough, zealous, and ethical representation. Whether it be resolution at jury trial, court trial, arbitration, mediation, or pre-suit negotiation, Mr. Schwartz has the experience and legal knowledge to effectively advocate for his clients in Minnesota, Wisconsin, Iowa and Arizona.

Mr. Schwartz earned an undergraduate degree cum laude in finance and economics from Michigan Technological University in 2006 while on a full hockey scholarship and earned his Juris Doctor, cum laude and in the top ten students in his class, from the William Mitchell College of Law in 2011. Prior to entering law school in 2008, Mr. Schwartz played professional hockey in the American Hockey League and East Coast Hockey League while employed as a clerk for the Schwartz Law Firm, a job that he kept until his graduation.

 

Jon-L.-Farnsworth_Hinshaw-&-Culbertson-LLP_myLawCLEJon L. Farnsworth | Spencer Fane LLP

Jon Farnsworth assists clients with all aspects of business and technology law, from mergers and acquisitions, brand and intellectual property rights protection, and digital transformations, including cloud software environments. He provides a comprehensive approach to matters that includes not just guidance, but practical ideas that align with a client’s business goals. Jon is fond of saying that “an attorney should foster business, not inhibit it.” He brings a common sense, practical and strategic approach to navigating the legal complexities of business.

Jon commonly counsels clients on computer, internet, privacy, website, data breach, cyber security, cyber liability insurance, technology, software, data privacy and security, and intellectual property legal issues.

He has more than a decade and a half of experience handling complex technology and legal issues. Jon was elected and previously served, as the Chair of the Minnesota State Bar Association’s Computer and Technology Law Section.

Experienced in working with entrepreneurs and business executives, particularly in the technology industry, Jon counsels businesses at startup in the initial strategy and financing stages as well as seasoned companies in strategizing about new market opportunities, risk factors, and aiding digital transformations.

He has also worked with numerous clients in the purchase/sale of businesses ranging from transitioning ownership to family members and/or employees, multimillion-dollar transactions to unrelated third parties, and involvement of private equity.

In addition to technology companies, Jon represents clients in a variety of industries, including retail, medical, specialized manufacturing, printing/packaging, real estate, fitness and athletics, security, medical device, consumable products, and professional services.

Highlights of Jon’s experience include:

Advise companies on automation, artificial intelligence, and the process for, and legal protections of, a digital transformation of their assets, including cloud-based and software as a service solution.

Strategic analysis of business and legal operations, including new product development and protection.

Negotiated and closed multi-million-dollar commercial lending and real estate transactions.

Successfully negotiated and closed small and mid-cap M&A transactions with domestic and foreign buyers.

Successfully defended and protected clients’ intellectual property rights, including in registrations, prelitigation and litigation matters.

Agenda

Session I – Reinforce the Limited Liability Company Veil | 2:00pm – 3:00pm

  1. Maintaining proper record keeping | 2:00pm – 2:15pm
  2. Avoiding commingling of assets| 2:15pm – 2:30pm
  3. Acting in according with the governing documents | 2:30pm – 2:45pm
  4. Treating the entity as separate and distinct from the owners | 2:45pm – 3:00pm

Break | 3:00pm – 3:10pm

Session II – LLC Operating Agreement Provisions | 3:10pm – 5:20pm

  1. Review veil piercing case law | 3:10pm – 3:40pm
  2. Learn steps to reduce the appearance of impropriety | 3:40pm – 4:10pm

Break | 4:10pm – 4:20pm

  1. Get drafting tips for your operating agreements | 4:20pm – 4:40pm
  2. Learn best practices for reducing risk when doing daily business | 4:40pm – 5:00pm
  3. Legal Ethics for Business Attorneys | 5:00pm – 5:20pm