Recently, Camille J. Iurillo presented an interactive workshop which resulted in some lively conversations between Ms. Iurillo and the Bayview Chapter of Network Professionals, Inc. (NPI) members who were in attendance. Ms. Iurillo reviewed the importance of having an Operating Agreement in the case of a limited liability company and a Shareholder Agreement in the case of a corporation. She discussed the agreements’ essential terms including identifying who the shareholders are, what their shareholder interest is, how distributions are decided, and what happens if there is a deadlock between the shareholders. In addition, Ms. Iurillo discussed Buy/Sell Agreements which are triggered if a shareholder decides to leave, becomes incapacitated or dies, and in general how does a company operate if one of the shareholders departs. When these issues are left open because there is no written agreement, the situation is ripe for litigation. Â Ms. Iurillo explained the steps in litigation, including responding to the lawsuit, the deposition and discovery process, required mediation and then trial.
Camille J. Iurillo Presents a Second Workshop for the Bayview Chapter of Network Professionals, Inc.
by Camille Iurillo | Sep 15, 2016