This episode features an interview with Professor Susan Pace Hamill, a leading authority and commentator on the origins and evolution of the limited liability company. We talk about her latest law review article entitled Some Musings as LLCs Approach the Fifty-Year Milestone in which she discusses how and why LLCs traveled from obscurity to the mainstream in recent decades; critiques the disparities between how LLC statutory default rules treat minority members versus the statutory rights of minority shareholders in close corporations in regard to withdrawal and buyout, highlights business law issues and abusive practices exposed by the current use of LLCs and explains why these problems are not caused by LLCs.
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