The most analytic treatise available dealing with limited liability companies. Coverage: approximately 75% business law, with tax analysis provided where useful. Cited by federal courts, state courts, law reviews, and other treatises. Numerous Examples and "Practice Pointers" for practitioners. Chapters include: Mechanics of Creating the Entity (including detailed analysis of operating agreements); The Members' Liability Shield (including the limits to “limited liability”); Management Structure and the Power to Bind the Entity; Fiduciary Duty; Exit Rights of Members (without dissolution); Entity Dissolution; The Delaware LLC Act; and many other topics. Updated twice yearly.