Corporate
Mar. 17, 2020
Does a non-managing member of an LLC owe a fiduciary duty to the other members?
Whether or not fiduciary duties arise at all depends upon the structure of the LLC and who, in particular, is designated as the manager(s).
Bruce Isaacs
Mediator
Signature Resolution LLC
entertainment, contracts, business, real estate, copyright infringement
633 W. 5th Street, Suite 1000
Los Angeles , CA 90071
Email: bisaacs@signatureresolution.com
Loyola Law School
A typical situation which often finds its way into mediation: (1) two or more "partners" form a business venture together; (2) rather than form the venture as a general partnership or a corporation, they form the business as a limited liability company under California law; (3) the venture does not succeed; (4) the members can no longer get along and distrust each other; (5) the members point fingers at each other, accusing each of various breaches of fiduciary duty;...
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