How Do Member-Managed and Manager-Managed LLC Management Structures Differ

question 57

Essay

How do member-managed and manager-managed LLC management structures differ?

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Definitions:

Deceptively Similar

Refers to a trademark, branding, or packaging that is so similar to another that it could mislead or confuse consumers.

Ultra Vires Act

An action or conduct that goes beyond the powers or authority granted by law or under a company's constitution or articles.

Express Powers

Specific rights and powers explicitly given to an entity or governing body through a legal document or statute.

Express Powers

Specific authorities explicitly granted to an entity or official in a legal document or statute.