This article suggests that statutes governing both corporations and limited liability companies should require all owners to read several warnings about the dangers of a lack of advance planning before starting a business, or before purchasing an equity interest in an existing closely held business. Part I of this article reviews the current landscape of available business forms and details the many ways in which the majority owners of a business can take advantage of the minority owners. Part I also reviews the many ways in which the minority owner could have protected himself -- if he had the foresight to do so. Part II then reviews the main statutory and judicial responses to the problem of minority owner oppression and discusses their inadequacy. After discussing some other suggesti...
WASHINGTON - President Bush's top defense advisers have recommended that he maintain 15 combat brigades in Iraq until the end of the year, contrary to expectations that the improved security in Iraq would allow for quicker cuts, The Associated Press has learned. Military leaders told the AP that the closely held plan would send a small Marine contingent to Afghanistan in November to replace one of two Marine units expected to head home then.
Tax liabilities of sale of interest in closely held corporations exained
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