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Webinar | Bare Bone Board Basics Episode #15 - Comparing the LLC Manager & the Corporate Director
Wednesday, March 22, 2023, 5:00 PM - 6:30 PM EDT
Category: Multi-Chapter

Bare Bone Board Basics Episode #15 - Comparing the LLC Manager & the Corporate Director

02:00 PM - 03:30 PM (Pacific)
03:00 PM - 04:30 PM (Mountain)
04:00 PM - 05:30 PM (Central)
05:00 PM - 06:30 PM (Eastern)


$  0 Member Registration Fee
$30 Non-Member Registration Fee

Zoom invitation will be shared the day before the event.


It is difficult to accurately compare the number of limited liability companies and corporations formed in the United States each year, as the data on these entities is not consistently reported. However, it is likely that there are more LLCs formed each year.

Therefore, it is worth asking, is the Bare Bones Board Basics webinar series applicable to managers of LLCs? The answer is yes, and no.

Corporate boards, like the corporations they serve, are creatures of statute.

LLCs, on the other hand, are creatures of contract. And, under most states’ laws, the fiduciary duties traditionally imposed on the directors of a corporation can be eliminated or restricted in the context of an LLC by doing so in its operating agreement (which is just the contract between the members of the LLC and its managers). That’s a major difference between corporate boards and LLC managers- - - But if an operating agreement does not eliminate or restrict fiduciary duties, most states’ courts borrow heavily from the fiduciary duties that exist in corporate law and impose them on an LLC’s manager.

An LLC might choose not to have a manager at all, and instead be member-managed rather than manager-managed. And to made matters more confusing, an LLC may choose to have a board of directors- - - though an LLC’s board of directors is not necessarily the equivalent of a board of directors of a corporation.

This webinar will arm attendees with a basic understanding of the fundamental differences and similarities between the way corporations and LLCs are governed.

As with each episode in this series, the information presented in this webinar will be equally helpful and accessible to company owners/executives as to board members and prospective board members.

Join us as an owner, officer, or board member of a corporation or a member, manager, or officer of an LLC!

This webinar and the series of which it is a part are co-production of certain chapters (Alabama, Dallas, DC Metro, Nashville, New England, New York Metro, Tampa Bay & Wisconsin) of the Private Directors Association®, Executive Forum™, Private Director Symposium™, ChamberWise™ & Financial Poise

Thank you to our National Sponsors!


              Susan Kearney
Founder | Board Director | CEO | COO |
Growth + Exit Advisor Creator of the C-Suite Bound Program
for Women Execs

WHAT I DO: I advise CEOs and owners of privately held, middle-market companies in DC, Virginia, and Maryland on growing and successfully exiting their businesses.

I do this by serving as an independent board director, CEO advisor, M&A advisor, or fractional executive.


▌ Accelerating growth – optimizing sales, marketing, & customer success; launching innovative, digital products; raising capital for expansion; scaling operations

▌ Improving performance – Creating strategic plans & metrics;
innovating business models; building healthy cultures, developing effective CEOs, leadership teams & boards

▌ Transactions - Preparing for & managing successful exits


▌ Owners & CEOs of businesses with $10 to $100M in revenue in DC, Virginia, & Maryland

▌ Companies in software, digital media, analytics, data & information products, professional services, & education


➝ Serial entrepreneur: I founded and/or scaled over half a dozen businesses with several successful exits. I am a revenue generation expert – I turbocharge sales, marketing, and customer success.

➝ Experienced, multidimensional C-Suite executive: I've demonstrated success as a CEO, COO, CMO and CRO.

➝ Leadership & change management expert: I get people engaged & working together to achieve extraordinary results.

➝ Board and governance expert: I am an experienced board director who also helps clients build and develop their boards and improve governance practices.

➝ C-Suite Coach: I coach a select group of smart, accomplished, and ambitious women who aspire to the C-Suite via my C-Suite Bound program.

➝ Education equity advocate: I served for 9 years as a member & chairman of my local school board & 4 years as a member of the Northern Virginia Community College Board.

➝ Author: I’ve written several children’s books to help kids fall in love with our oceans & the critters that live in and around them.


➝ I'm skilled at pulling teams together to succeed with critical, high-stakes initiatives.

➝ I have a deep network of expert resources to help my clients.

➝ I’m both a thinker and a doer. I have high energy and EQ and bring vision and creativity to my work.

➝ I care deeply about my clients' successes, both personally and professionally.

              Jeremy Waitzman
Much Shelist

Jeremy calls on years of corporate legal experience to help his clients achieve their No. 1 goal: seeing their businesses thrive. He advises on a wide range of matters, from day-to-day operational issues to significant transactions.

Described by clients as “an essential advisor” and “a partner in the success of my business,” Jeremy represents businesses of all types and sizes. He is a trusted counselor throughout a company’s lifecycle, from inception to major growth phases and often through ownership’s exit. His clients include privately held middle-market and emerging growth companies, family offices and funds, investors, C-level executives, boards of directors, family-owned businesses, and entrepreneurs.

Having trained as an M&A attorney at a large firm, Jeremy brings transactions-intensive experience that spans several areas of corporate law. His practice includes business and capital structure matters, mergers and acquisitions, private placements and securities offerings, corporate governance, and the full range of contracts and agreements.

Jeremy also advises on private equity and venture capital matters, venture and angel financing, investor rights and preferences, commercial litigation funding matters, and strategies for the creation of enterprise value.

Industry sector experience includes software, health care, specialty chemicals, mobile, information technology, ecommerce, transportation, insurance, marketing and public relations, construction, transportation, specialty consumer, real estate, manufacturing, distribution, and tech-enabled services.


    Jonathan Friedland
Much Shelist, P.C.
  • Jonathan Friedland is a principal with the Much Shelist, P.C. law firm.
  • He regularly advises boards of directors and owners of companies in financial distress.
  • Jonathan has been representing companies in out-of-court workouts, chapter 11 bankruptcy, and controlled liquidations for more than 25 years. He also has broad and substantial experience in acting as outside general counsel to clients and in running both a wide variety of corporate transactions, and a wide array of commercial litigation.
  • He is widely recognized as a leading corporate restructuring and insolvency attorney. He has been rated for many years as AV® Preeminent™ by Martindale-Hubbell, 10/10 by AVVO, and 10/10 by Justia. Jonathan is the principal author of two leading legal treatises, and his scholarship is widely cited by legal scholars. He formerly served stints as an Adjunct Professor of Strategic Management at the University of Chicago’s Graduate School of Business and as a Clayton Center for Entrepreneurial Law Visiting Professor of Business Law at the University of Tennessee College of Law. More information here.