One of the best attributes of the limited liability company entity is the flexibility it affords. The operating agreement is the document through which this flexibility is exercised. The operating agreement can be thought of as providing the laws of the business. The operating agreement provides the rights and obligations of the members including members’ management abilities and economic interests. Without an operating agreement, Washington limited liability companies are governed by the default provisions provided in Chapter 25.15 of the Revised Code of Washington. I am going to start a series of posts discussing… Read the rest
King County resident Gina Kim posted for sale on Ebay a handbag she had purchased at a Coach store. She then received a cease and desist letter from Gibney Anthony, Coach’s legal representatives. The letter directed her to sign a statement indicating she took wrongful action in seeking to sell a counterfeit product, threatened up to $2 million in penalties, and demanded she pay $300 immediately. Now Ms. Kim, a 31-year-old Seattle Central Community College student, is filing suit.
She hired a Seattle law firm to represent her, and has now filed a complaint in federal court.… Read the rest