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Foreword: Understanding The Place Of Limited Liability Companies In The Spectrum Of Business Forms, Charles O'Kelley
Foreword: Understanding The Place Of Limited Liability Companies In The Spectrum Of Business Forms, Charles O'Kelley
Faculty Articles
This article is the forward to the Symposium on Oregon's Limited Company Act. For most of this century, state law has provided participants in jointly-owned business ventures with three principal business forms the corporation, the general partnership, and the limited partnership. In the past four years, over two-thirds of the states, including Oregon, have enacted legislation authorizing a new business form-the limited liability company (LLC). It appears likely that the LLC will soon supplant the two forms of partnership as a principal business form, and that it will challenge the corporation as the form of choice for closely held firms.
A Step In The Right Direction: Washington Passes The Limited Liability Company Act, Jessica A. Eaves
A Step In The Right Direction: Washington Passes The Limited Liability Company Act, Jessica A. Eaves
Seattle University Law Review
This Article describes how and why the LLC Act was passed, and provides a general outline of the LLC form in Washington. Section II outlines the perceived barriers to operating a business in Washington state. Section III sets out a brief legislative history of the Act, including the attempts by the Washington State Trial Lawyers Association to block the legislation, and proposed amendments to the legislation. Section IV describes the specifics of the LLC entity by reference to the Washington Limited Liability Company Act. Section IV also presents the comparative advantages of LLCs to other business forms. Finally, Section V …