An LLC operating agreement is a legally binding document that outlines the LLC’s preferred operating, management and financial procedures. Its purpose is to guide the business’s internal operations ...

Operating agreements are pivotal in outlining a business’ financial and functional decisions. It’s the guiding document that bonds and legally protects business partners. Nonetheless, up-and-coming ...

An LLC operating agreement isn’t required in most states, but it’s an important legal document for a business. Many, or all, of the products featured on this page are from our advertising partners who ...

I get asked this question all the time. Why do I need an Operating Agreement? To keep your Limited Liability Company (LLC) in good standing, there’s one very important document you should have - an ...

It is far preferable for LLC members to consult with the proper advisers when preparing operating documents—and to ensure they draft them effectively. The documents are much more than formalities and ...

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. Florida doesn’t require limited liability companies (LLCs) ...

An LLC is not always required to have an operating agreement, but it's a bad idea to get rid of an existing one. The operating agreement is a consensus of the members on how the company should be run.

Last Thursday, with my colleague Amanda Nelson, I taught a two-hour webinar for 36 New Hampshire lawyers, sponsored by the New Hampshire Bar Association, on how to draft operating agreements for ...

Forbes contributors publish independent expert analyses and insights. I cover Wealth Preservation in its legal permutations When drafting LLC operating agreements, lots of planners include clauses to ...

I often hear vessel owners, brokers and others in the marine industry ask why they need an attorney to form a limited liability company, when filing one form online can typically accomplish it. The ...

Joint operating agreements set forth provisions to govern specific operational partnerships between two or more organizations, whether they are private businesses, corporations or government entities ...