Lisa and trevor assume that the profits and voting power


John, Lisa, and Trevor form a limited liability company (LLC). John contributes 50 percent of the capital, Lisa and Trevor each contribute 20 percent. Nothing is decided about how profits will be divided or how much voting power should be allocated. John assumes he will be entitled to 50 percent of the profits and 50 percent of the voting power, in accordance with his contribution. Lisa and Trevor assume that the profits and voting power will be equal for all members. Who is correct, and how could this issue be resolved in the first place?

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Finance Basics: Lisa and trevor assume that the profits and voting power
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