What is the difference between an At-Will LLC and Perpetual-Existence LLC?
In most states, an LLC can either be a term company or an at-will company. A term company has a specified number of years designated for its term, or lifespan. For example, a term LLC can state in its articles that the term (lifespan) is to be 25 years from the date of filing of the Articles of Organization, or the Articles can designate a specific future date, such as January 8, 2050. A term company that continues to do business past its term will become an at-will company. Since most people do not have a reason their company must terminate at a specific time, MY-LLC.biz will files your Articles of Organization as a Perpetual LLC. Our Operating Agreement allows your company to continue if some members leave, and to easily close down your company if you should desire.
In most states, an LLC can either be a term company or an at-will company. A term company has a specified number of years designated for its “term,” or lifespan. For example, a term LLC can state in its articles that the term (lifespan) is to be “25 years from the date of filing of the Articles of Organization,” or the Articles can designate a specific future date, such as January 8, 2050. A term company that continues to do business past its term will become an at-will company.
(back to top) In most states, an LLC can either be a term company or an at-will company. A term company has a specified number of years designated for its term, or lifespan. For example, a term LLC can state in its articles that the term (lifespan) is to be 25 years from the date of filing of the Articles of Organization, or the Articles can designate a specific future date, such as January 8, 2050 . A term company that continues to do business past its term will become an at-will company.
