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An empirical study of privately owned LLC operating agreements maps dispute-resolution terms for members, managers, and the entity, presenting findings on law and forum choices, arbitration, service of process, books and records, and procedural rules.",{"@graph":14,"@context":73},[15,34,56],{"@type":16,"itemListElement":17},"BreadcrumbList",[18,23,27,31],{"item":19,"name":20,"@type":21,"position":22},"https://docshare.wps.com","Home","ListItem",1,{"item":24,"name":25,"@type":21,"position":26},"https://docshare.wps.com/template/","Template",2,{"item":28,"name":29,"@type":21,"position":30},"https://docshare.wps.com/template/presentations/","Presentations",3,{"item":32,"name":10,"@type":21,"position":33},"https://docshare.wps.com/template/llcs-and-the-private-ordering-of-dispute-resolution-read-online-free/282428/",4,{"url":32,"name":10,"@type":35,"image":36,"author":41,"headline":10,"publisher":44,"fileFormat":47,"inLanguage":8,"description":12,"dateModified":48,"datePublished":49,"encodingFormat":47,"isAccessibleForFree":50,"interactionStatistic":51},"DigitalDocument",{"url":37,"@type":38,"width":39,"height":40},"https://docshare.wps.com/thumbnails/llcs-and-the-private-ordering-of-dispute-resolution-read-online-free/282428.png","ImageObject",442,249,{"name":42,"@type":43},"Berry Peter","Person",{"url":19,"name":45,"@type":46},"DocShare","Organization","application/pdf","2026-11-03","2026-09-16",true,{"@type":52,"interactionType":53,"userInteractionCount":55},"InteractionCounter",{"@type":54},"ViewAction",11,{"@type":57,"mainEntity":58},"FAQPage",[59,65,69],{"name":60,"@type":61,"acceptedAnswer":62},"What is the central question the article explores about dispute resolution rules in business entities?","Question",{"text":63,"@type":64},"It asks how far organizational documents may establish rules for resolving internal disputes within business entities, particularly LLCs.","Answer",{"name":66,"@type":61,"acceptedAnswer":67},"How does private ordering of dispute resolution affect parties and the firm?",{"text":68,"@type":64},"The article notes that such terms can reduce litigation expenses and streamline resolution, while also potentially increasing agency costs by limiting owners’ ability to hold managers accountable.",{"name":70,"@type":61,"acceptedAnswer":71},"What does the empirical study analyze in LLCs?",{"text":72,"@type":64},"It uses an original dataset of privately owned LLC operating agreements to identify and map terms governing disputes among members, managers, and the LLC itself, including law and forum choices and procedural provisions.","https://schema.org",{"og:url":32,"og:type":75,"og:title":10,"og:site_name":45,"og:description":12},"article",{"robots":77,"canonical":32},"index,follow",{"doc_id":79,"site_id":7},282428,1791745807,{"code":4,"msg":82,"data":83},"success",[84,87,92,97,102,107,112,117,122],{"id":55,"doc_module":22,"doc_module_name":25,"category_name":29,"show_sort_weight":85,"slug":86},90,"presentations",{"id":88,"doc_module":22,"doc_module_name":25,"category_name":89,"show_sort_weight":90,"slug":91},12,"Resumes",80,"resumes",{"id":93,"doc_module":22,"doc_module_name":25,"category_name":94,"show_sort_weight":95,"slug":96},14,"Invoices",70,"invoices",{"id":98,"doc_module":22,"doc_module_name":25,"category_name":99,"show_sort_weight":100,"slug":101},15,"Posters",60,"posters",{"id":103,"doc_module":22,"doc_module_name":25,"category_name":104,"show_sort_weight":105,"slug":106},16,"Social Media",50,"social-media",{"id":108,"doc_module":22,"doc_module_name":25,"category_name":109,"show_sort_weight":110,"slug":111},17,"Forms",40,"forms",{"id":113,"doc_module":22,"doc_module_name":25,"category_name":114,"show_sort_weight":115,"slug":116},18,"Letters",30,"letters",{"id":118,"doc_module":22,"doc_module_name":25,"category_name":119,"show_sort_weight":120,"slug":121},21,"Paper Templates",5,"papers-templates",{"id":123,"doc_module":22,"doc_module_name":25,"category_name":124,"show_sort_weight":4,"slug":125},158,"General","general-158",{"code":4,"msg":82,"data":127},{"doc_id":79,"user_id":128,"nickname":42,"user_avatar":129,"doc_module":22,"category_id":55,"category_name":29,"doc_title":10,"doc_description":12,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":55,"is_deleted":4,"is_public":22,"is_downloadable":22,"audit_status":22,"page_count":118,"language":135,"language_code":8,"site_id":7,"html_lang":8,"table_of_contents":136,"faqs":137,"seo_title":138,"seo_description":12,"update_tm":139,"read_time":140},1374402524268,"https://ap-avatar.wpscdn.com/davatar_3d24733baf745e90a7e4bdd5f77d97b2","LLCs and the Private Ordering of Dispute Resolution  \nPeter Molk* & Verity Winship **  \nI. INTRODUCTION ............................................................................................................ 796  \nII. THE SPREAD OF DISPUTE RESOLUTION PROVISIONS TO BUSINESS ENTITIES .............. 797  \nIII. METHODOLOGY ........................................................................................................ 799  \nIV. EMPIRICAL RESULTS: DISPUTE RESOLUTION PROVISIONS IN LLC OPERATING AGREEMENTS ........................................................................................................ 800  \nA. Choice of Law .................................................................................................. 801  \nB. Choice of Forum: Exclusive Forum and Mandatory Arbitration..................... 802  \n1. Exclusive Forum Clauses ............................................................................ 802  \n2. Mandatory Arbitration ................................................................................ 804  \nC. Service of Process ............................................................................................ 806  \nD. Books and Records........................................................................................... 807  \nE. Procedural Rules .............................................................................................. 808  \n1. Fee-Shifting and Other Cost Allocation ...................................................... 808  \n2. Jury Waivers ............................................................................................... 811  \nF. Summary........................................................................................................... 811  \nG. Relationship to Exculpation and Waiver ......................................................... 812  \nV. IMPLICATIONS ............................................................................................................ 814  \nVI. CONCLUSION............................................................................................................. 814  \n* Assistant Professor, Willamette University College of Law.  \n** Professor of Law, University of Illinois College of Law.  \n796 The Journal of Corporation Law [Vol. 41:4  \nI. INTRODUCTION  \n[An emerging question in U.S. business](An emerging question in U.S. business) law is the extent to which the organizational documents ofa business entity may set the rules for resolving internal disputes. Contracting about dispute resolution is a routine aspect of commercial contracting. The parties may select where disputes are resolved or specify particular aspects of dispute resolution, such as access to a jury or allocation of costs. Until recently, however, private ordering of litigation procedures within business entities was often overlooked. This changed when companies began to adopt provisions in corporate charters and bylaws that limited shareholder litigation by restricting the courts in which parties could litigate or by requiring unsuccessful plaintiffs to pay the other side’s costs.  \nOn the one hand, terms that eliminate traditional dispute resolution procedures have the benefit of reducing litigation expenses and streamlining dispute resolution, potentially making the firm more valuable. On the other hand, terms that restrict the ways in which owners can hold managers accountable could open the door to greater management agency costs that devalue the firm. The controversial use of these terms in corporations ultimately prompted a legislative response by Delaware that restricted the use of fee-shifting and mandatory arbitration clauses in Delaware stock corporations—the need to constrain agency costs and protect shareholders’ access to the courts apparently outweighed the potential efficiencies that these terms promised.  \nMissing from this discussion is the extent to which non-corporate business entities set ex-ante rules for reso","cbCaikitONKgK3Lg","https://ap.wps.com/l/cbCaikitONKgK3Lg","pdf",966199,"English","# Introduction\n# The Spread of Dispute Resolution Provisions to Business Entities\n# Methodology\n# Empirical Results: Dispute Resolution Provisions in LLC Operating Agreements\n## Choice of Law\n## Choice of Forum: Exclusive Forum and Mandatory Arbitration\n## Service of Process\n## Books and Records\n## Procedural Rules\n## Summary\n## Relationship to Exculpation and Waiver\n# Implications\n# Conclusion","[{\"question\":\"What is the central question the article explores about dispute resolution rules in business entities?\",\"answer\":\"It asks how far organizational documents may establish rules for resolving internal disputes within business entities, particularly LLCs.\"},{\"question\":\"How does private ordering of dispute resolution affect parties and the firm?\",\"answer\":\"The article notes that such terms can reduce litigation expenses and streamline resolution, while also potentially increasing agency costs by limiting owners’ ability to hold managers accountable.\"},{\"question\":\"What does the empirical study analyze in LLCs?\",\"answer\":\"It uses an original dataset of privately owned LLC operating agreements to identify and map terms governing disputes among members, managers, and the LLC itself, including law and forum choices and procedural provisions.\"}]","LLCs and the Private Ordering of Dispute Resolution - read online free | PDF",1789574321,7]