Exit Stage Left: Getting Out of Your Limited Liability Company

Tarik Haskins, partner in the Morris Nichols Delaware Commercial Law Counseling Group, authored “Exit Stage Left: Getting Out of Your Limited Liability Company” featured in the July 2013 Edition of Business Law Today, a publication of the ABA's Business Law Section.

As part of the process of negotiating and drafting an LLC Agreement, the members should consider how the parties will exit the LLC, but if they choose not to, realize the consequences of that decision and the risk that the parties may not be able to agree as to acceptable exit terms.  Tarik's article highlights the importance of addressing the issue of exit mechanisms in an LLC Agreement and provides a brief description of possible exit mechanisms that could be included. Although its focus is on Delaware limited liability companies, the discussion with respect to exit mechanisms is applicable to LLCs formed in other jurisdictions as well.

Tarik J. Haskins, “Exit Stage Left: Getting Out of Your Limited Liability Company,” ABA Business Law Today (July 2013)