Preparing for Ownership and Management Transitions in California Partnerships and LLCs

Throughout the life of a partnership or limited liability company, there will likely be one or more transitions in ownership and management as a result of death, retirement, or disputes. In this program, experienced practitioner Rachelle Cohen will introduce the California laws that govern ownership and management transitions. She will review common contractual provisions that partners or members should consider at the outset when LLCs or partnerships are formed to deal with transition and will use examples to illustrate how those statutes and contractual provisions apply in different transitions.

This program will benefit lawyers who form and advise partnerships, limited liability companies, or owners or managers of them.

Learning Objectives:

1. Evaluate the statutes that apply to ownership and management transitions in partnerships and LLCs

2. Prepare to assist clients with considering contractual provisions to meet their expectations for transitions

3. Evaluate specific facts to get a better understanding of the application of the statutes

4. Determine how the statutes work in conjunction with contractual provisions