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 ...

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 ...

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 ...

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 ...

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 operating agreement is a type of document commonly used for small business organized as limited liability companies. It lays out the structural and management details of the business, and is ...

The Revised Arizona Limited Liability Act ("New Act") has been effective since September 1, 2019 for new limited liability companies ("LLCs"). It now becomes effective for any existing LLCs on ...

An operating agreement is a foundational legal document used by limited liability companies (LLC) to outline the rules and regulations by which the company and its owner(s) will operate or function.

Opinions expressed by Entrepreneur contributors are their own. Every limited liability company (LLC) needs an operating agreement to serve as its backbone and ensure that partners are treated fairly.

Every limited liability company (LLC) needs an operating agreement to serve as its backbone and ensure that partners are treated fairly. However, it can easily be inaccurately written or leave out ...