ABCNY Seminar Will Outline Basics Of LLCs, LLPs

Saturday, April 1, 2006 - 01:00

The Association of the Bar of the City of New York this month is planning a CLE seminar titled A Practical Guide to LLCs & LLPs.

The program will take place on Monday, April 24 from 9 a.m. to 1 p.m. at the House of the Association, 42 West 44th Street, New York City.

An expert panel will present a practical guide to the use of LLCs and LLPs. The panel will provide concrete advice on critical formation and early-stage issues, such as the advantages and disadvantages of the LLC/LLP form, a comparison of LLCs and LLPs to corporations, the tax benefits of the LLC/LLP form and the choice of state law.

As part of the choice-of-entity discussion, the panel will discuss specific businesses, fact patterns and exit strategies that may dictate the choice-of-entity decision. The panel will describe the mechanics of forming an LLC/LLP and the content of the principal agreements incidental to such formation, including the basic operating agreement.

The panel also will examine various executive and other compensation structures in the context of an LLC, including in particular the use of equity-based incentive compensation arrangements and a comparison to traditional corporate stock option plans.

The program chair is Gary J. Simon, Hughes Hubbard & Reed LLP.

For details on available CLE credits and registration fees, see the Bulletin Board on The Metropolitan Corporate Counsel website at

For reservations, call (212) 382-6663 or visit