Economics and law expert Willamette University College of Law Assistant Professor Peter Molk was interviewed by Peter Mahler host of the “New York Business Divorce” podcast to discuss his article “How Do LLC Owners Contract Around Default Statutory Protections?,” forthcoming in University of Iowa College of Law’s Journal of Corporation Law.
“Professor Molk’s article deserves attention because it asks and attempts to answer based on empirical evidence a vital question: Is the freedom of contract promoted by the LLC statutes’ default rules being used as theory would predict, to promote economic efficiency and to craft more efficient owner protections?” says Mahler.
Molk’s study examines nearly 300 operating agreements of LLCs involved in litigated cases, looking for provisions that either weaken or strengthen owner protections granted by the statutory default rules. The patterns his study finds have a direct impact on business divorce practitioners and also should influence choice of entity decisions and the drafting of agreements by practitioners involved in entity formation.
Listen to the entire podcast at NYbusinessdivorce.com.
About Peter Molk
Peter Molk is an assistant professor of law at Willamette University College of Law, where he teaches contracts, business associations, securities regulation, and insurance and his research focuses on issues of business law and organizational choice, design, and ownership, as well as insurance law. Molk’s scholarship has been published or is forthcoming in the Iowa Law Review, University of Illinois Law Review and Tulane Law Review.
About Willamette University College of Law
Opened in 1883, Willamette University College of Law is the first law school in the Pacific Northwest. The college has a long tradition at the forefront of legal education and is committed to the advancement of knowledge through excellent teaching, scholarship, mentoring and experience. Leading faculty, thriving externship and clinical law programs, ample practical skills courses, and a proactive career placement office prepare Willamette law students for today's legal job market. According to statistics compiled by the American Bar Association, Willamette ranks first in the Pacific Northwest for job placement for full-time, long-term, JD-preferred/JD-required jobs for the class of 2014 and first in Oregon for the classes of 2012, 2013 and 2014. Located across the street from the state capitol complex and the Oregon Supreme Court in downtown Salem, the college specializes in law and government, law and business, and dispute resolution.