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 ...

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 ...

Kelly Main is a Marketing Editor and Writer specializing in digital marketing, online advertising and web design and development. Before joining the team, she was a Content Producer at Fit Small ...

Is a limited liability company a party to and bound by its own operating agreement? Many folks would say, “Yes, of course.” But it turns out the answer varies depending upon the law of the company’s ...

In Maro, six physicians, who were already colleagues in an existing medical practice, agreed to form a new entity that they hoped would allow them to earn higher profits with a number of other doctors ...

When creating an entity, a common misconception is that anyone can set up the entity on their own since it is “just a filing with the state.” Since it is just a state filing, an attorney does not ...

CONGRATULATIONS!! You have just formed a New York limited liability company to purchase a piece of rental property with your cousin Vinny (no, not that Cousin Vinny) and his good friend Michael.

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.

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 ...