How does Liability of Members work? Let’s discuss examples.
There are limitations of liability and indemnification. So, can you help us with some hypothetical examples that you are concerned about? In general, outside of criminal actions, liability is manifest through litigation. Litigation is traditionally initiated by vendors, partners and limited partners, but may also be brought by portfolio companies, portfolio co-investors, etc. Litigation is managed through the dispute resolution clause and costs are offset by insurance.
