In certain circumstances, shareholders of corporations and members of limited liability companies can obtain confidential communications between corporate management and the company’s attorney that would otherwise be...more
7/18/2023
/ Attorney-Client Privilege ,
Beneficiaries ,
Breach of Duty ,
Corporate Management ,
Fiduciary Duty ,
Jurisdiction ,
Limited Liability Company (LLC) ,
Minority-Owned Businesses ,
Shareholders ,
Trustees ,
Trusts
This post explains the rules that apply to Illinois corporations and business entities organized in other jurisdictions.
In most jurisdictions, shareholders and LLC members generally do not have the right to obtain...more
Those with ownership stakes in privately held businesses, partnerships, or family offices need to closely collaborate with and trust others. When disagreements and disputes over rights and responsibilities arise, individual...more
This post explains when minority shareholders may owe fiduciary duties and steps that shareholders can take to eliminate any fiduciary duties they might owe....more