LLC Collection: Piercing the Veil

• Overview
• Credits

Avoid common pitfalls that can lead to veil piercing and ensure you enjoy the full benefits of an LLC structure.Many business owners choose the limited liability company structure to insulate themselves from liability -- only to later find themselves personally on the hook. While forming your company as an LLC does offer liability protection, the veil of protection can be pierced under certain circumstances. This presentation will help business owners avoid common pitfalls that can lead to veil piercing. This material explains situations in which courts have found it proper to pierce the corporate veil in the LLC context and how to conduct your business to prevent the types of practices that leave business owners exposed to personal liability. This workshop is critical for business owners to ensure they enjoy the full benefits of an LLC structure.

Authors

Agenda

Introduction to Veil Piercing

• History

• Rationale for Veil Piercing

• Legal Standards

• Current Trends

Corporate Veil Piercing Versus LLC Veil Piercing

• Similarities

• Differences

• Statutory Analysis of LLC Acts

• Explanation for Differences

Analyzing Veil Piercing Claims

• Factors Supporting Claims

• Factors Defeating Claims

• Agency Liability Versus Enterprise Liability Claims

Reverse Veil Piercing

• Exploration of Theory for Reverse Veil Piercing

• Fact Patterns of Successful Claims

• Fact Patterns of Unsuccessful Claims

Pulling It Together

• Best Practices

• Questions