Avoid common pitfalls that can lead to veil piercing and ensure you enjoy the full benefits of an LLC structure.
Many business owners choose the limited liability company structure to insulate themselves from liability -- only to later find themselves personally on the hook. While forming your company as an LLC does offer liability protection, the veil of protection can be pierced under certain circumstances. This presentation will help business owners avoid common pitfalls that can lead to veil piercing. This material explains situations in which courts have found it proper to pierce the corporate veil in the LLC context and how to conduct your business to prevent the types of practices that leave business owners exposed to personal liability. This workshop is critical for business owners to ensure they enjoy the full benefits of an LLC structure.
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Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Introduction to Veil Piercing
- History
- Rationale for Veil Piercing
- Legal Standards
- Current Trends
Corporate Veil Piercing Versus LLC Veil Piercing
- Similarities
- Differences
- Statutory Analysis of LLC Acts
- Explanation for Differences
Analyzing Veil Piercing Claims
- Factors Supporting Claims
- Factors Defeating Claims
- Agency Liability Versus Enterprise Liability Claims
Reverse Veil Piercing
- Exploration of Theory for Reverse Veil Piercing
- Fact Patterns of Successful Claims
- Fact Patterns of Unsuccessful Claims
Pulling It Together
- Best Practices
- Questions
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on March 23, 2022.
Call 1-866-352-9540 for further credit information.
- AK CLE 1.0
- Alaska attorneys may receive 1.0 hours of continuing legal education for completing this program. Please contact the Alaska Bar Association or go to www.alaskabar.org for details regarding reciprocity with other states.
- AL CLE 1.1
- This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.1 hours credit.
- AR CLE 1.0
- This course has been approved for 1.0 hours of CLE by the Arkansas CLE Board.
- Arizona CLE 1.0
- The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.0 hours toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.0
- Lorman Education Services is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hours of participatory credit.
- CT CLE 1.0
- Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.0 CLE credit(s).
- GA CLE 1.0
- This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.0 CLE hours.
- MO CLE 1.3
- This course qualifies for self-study CLE credit in Missouri.
- ND CLE 1.0
- North Dakota CLE policy does not allow for pre-approval of any self-study courses. This course may qualify for up to 1.0 hours of CLE credit.
- NH MCLE 1.1
- NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 66 Minutes.
- NM CLE 1.1
- This program has been approved by the New Mexico Minimum Continuing Legal Education Board for 1.1 hours of credit.
- NY CLE 1.0 including Areas of Professional Practice 1
- This course has been approved in accordance with the requirements of the New York Continuing Legal Education Board for up to a maximum of 1.0 credit hours in the area(s) of Areas of Professional Practice for 1.00 hour. Each hour may be counted only as satisfying one category of credit. Duplicate credit for the same hour of instruction is not permitted. This course qualifies for both established and newly admitted attorneys. Lorman Education- Noggin Guru, Inc. has a financial hardship guideline. Please contact customer service at 1.866.352.9539 for instructions on how to apply.
- RI CLE 1.0
- This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.0 hours of CLE credit.
- VT CLE 1.0
- This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.0 hour(s) of CLE credit. Please note: Attorneys may only claim 12 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
- WA CLE 1.0
- This program has been approved by the Washington State Board of Continuing Legal Education for 1.0 hours of A/V credit under the Law & Legal Procedure category.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Tod Northman
Tucker Ellis LLP
- Partner in the Cleveland office of Tucker Ellis LLP
- Practice emphasizes all aspects of corporate counseling, particularly for complex international organizations and high-net-worth family offices
- Conducts regular seminars and workshops on a broad range of subjects, from corporate governance to artificial intelligence
- Author of several publications related to the areas of corporate governance, antitrust, transportation, and emerging technology
- Membership information: Ohio, Oregon, and Washington state bars
- J.D. degree, Case Western Reserve University School of Law; M.A. degree, New York University Graduate School of Arts and Science; B.A. degree, Portland State University
- Can be contacted at [email protected], 216-696-5469, or @ClevelandDuck and @_Driverless
Sofia Skok
Tucker Ellis LLP
- Associate in the Chicago office of Tucker Ellis LLP
- Focuses on corporate law, finance, and real estate practices
- Worked as a research assistant at Notre Dame for business law Professor Patrick Corrigan, assisting with research regarding his forthcoming paper in the Yale Journal on regulation, entitled “Footloose with Green Shoes: Can Underwriters Profit from IPO Underpricing?”
- Graduated, cum laude, Notre Dame Law School
- Can be contacted at [email protected] or 312-256-9430
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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