Limited Liability Company

Corporations and LLCs both provide their shareholders and members with limited liability to operate a for-profit business, and while these two forms of business entities are similar in many ways, they also have some important differences. For example, there are key distinctions between corporations and LLCs in their ability to modify or eliminate the fiduciary

By definition, a minority owner in a private company does not have control over the business or the right to make decisions for the company. But minority owners do have legal recourse when the company’s majority owners – through their roles as officers, directors, or managers – engage in conduct that breaches their fiduciary duties