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To Boldly Go Where You Have Not Been Told You May Go: LLCs, and LLLPs in Interstate Transactions

Recent years have seen the broad acceptance of the limited liability company, the limited liability partnership, in both the partial shield and full shield forms, and most recently the limited liability limited partnership. While it is oft assumed that the limited liability afforded by the jurisdiction of organization will be respected outside the jurisdiction of organization, such is not always the case. This article reviews the limits of the liability shields provided by these still relatively new forms of business organizations, surveys the relatively scant case law with respect to whether or not limited liability afforded by a foreign jurisdiction will be respected outside that jurisdiction and then, on a normative basis, reviews whether and how these new forms of organization may fall within the scope of a "corporation" as that concept is utilized in the Restatement (Second) of Conflicts.