Limited Liability Companies (LLCs) have become the preferred form of organization for businesses of all sizes. This is due to their flexibility, lack of corporate formalities, protection against individual liability and pass through taxation. LLCs can include—and are well-suited for—real estate owners, family businesses, family investments and operating businesses of all kinds.

At Axley, we have a wide variety of experience in forming and advising numerous LLCs.

The central document for an LLC is its operating agreement. An operating agreement is a contract between the members outlining how they will own, manage and end their company. Consequently, it is crucial to have the right operating agreement from the start.

One advantage of the LLC form of organization is its flexibility. An LLC can accommodate virtually any business arrangement, and the members can agree to operate and divide the profits (and losses) from the LLC in any way they see fit. When starting, operating or changing an LLC, it is important to have an experienced, knowledgeable business attorney involved in order to ensure the LLC arrangement is sensible, enforceable, tax efficient and has proper documentation.

Axley’s Limited Liability Company attorneys help members of LLCs understand their options and the tax effects of their actions. We also use our creativity to problem-solve and find any alternatives which may produce more advantageous results and/or ensure correctly crafted agreements.

Client Successes

Some of our past experience in the field.
Successfully Defended Limited Liability Company in Action Seeking Temporary Restraining Order
Successfully defended limited liability company in action seeking temporary restraining order and other relief arising out of purchase of a downtown Chicago commercial building.
Dismissal - Breach of Contract, Breach of Fiduciary Duty & Statutory Violations
Obtained summary judgment in favor of corporation where federal court dismissed a former member's claims involving a dissolved LLC, including claims for breach of contract, breach of fiduciary duty, various statutory violations, as well as a request for an accounting. See 2010 WL 2739832 (W.D. Wis.)
Tenant in Common / Syndicated Limited Liability Companies
Represented real estate sponsors in raising capital in tenant in common, syndicated limited liability companies and related offerings

Featured Insights

View some publications relating to Limited Liability Companies
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LLC Disputes: Supreme Court to Weigh In

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Reasons for Having an Operating Agreement

Although many states, including Wisconsin, do not require that a limited liability company have an operating agreement, there are multiple...
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Six Considerations for Negotiating the Best Lease for Your Start-Up

Negotiating a lease agreement requires a prospective tenant to consider and address multiple factors. This is especially true for an...

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