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   Author  Topic: LLC Indemnification Agreement  (Read 635 times)
lemonbar
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LLC Indemnification Agreement
« on: Oct 11th, 2007, 7:14pm »
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Indemnification Agreement:
 
It is strongly recommend that you include special provisions in your Articles of Incorporation and additional Corporate agreements which trigger this important protection requiring the Corporation to indemnify and hold harmless it's Directors and Officers from any actions they take on behalf of the Corporation. If a Director or Officer is ever sued for actions taken on behalf of the Corporation, these provisions require that the Corporation be held responsible, as agreed upon by the Directors and Officers and the Corporation.
 
Is this a fluff statement or should this be done to better protect the LLC members/single owner?
 
Would it go further to protect the LLC members/single owner against patent infringment willful or otherwise?
 
Thanks
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Bill Richards
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Re: LLC Indemnification Agreement
« Reply #1 on: Oct 20th, 2007, 3:37pm »
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You seem to be mixing corporation terminology with LLC terminology.  Regardless, this issue is governed by state law.
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William B. Richards, P.E.
The Richards Law Firm
Patents, Trademarks, and Copyrights
614/939-1488
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