Question

Hal Carney and Trish Protura are two Web and software engineers seeking financial backing for further development of social networking technology they have created. Black Rock LLC is willing to commit $5 million to the venture, which will be formed as an LLP. The LLP is expected to generate no cash flow for the first 18 months and no profits for the first three years. The business will have minimal profits for years four and five. Starting in year six, its profits should exceed $1 million and grow steadily thereafter. Carney and Protura have no jobs, no income, and few assets beyond their investment and work for the LLP. Should they rely on the default rules of the RUPA to provide compensation to them for their work for the LLP?



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  • CreatedJuly 16, 2014
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