What are the benefits of an Operating Agreement?
Operating agreements are a very important document for limited liability companies (LLC’s). However, one thing always remains constant regarding operating agreements – it is always necessary to have one in order to protect all the owner’s rights. Everyone is familiar with articles of organization. This document establishes the LLC and creates the company itself.
However, it does not establish voting rights, succession events, or compensation. An operating agreement, meanwhile, will lay down the ground rules on how your business will be operated, sold, and even passed on to subsequent owners. The possibilities of items that can be included in an operating agreement are endless. The rules established in an operating agreement put forth a framework that can usually resolve any disputes constructively and objectively.
Benefits of an Operating Agreement
- Generally, provide clarity regarding members and managers.
- Provides guidance as to whether LLC is member managed or manager managed.
- Can potentially avoid litigation by listing how issues are resolved.
How long does it take to have a custom Operating Agreement?
Approximately 1-2 business days*
*Depending on Specifications
Why our firm to make your custom Operating Agreements?
Contact SG Law Group to ensure your Operating Agreement is drafted appropriately and encompasses the necessary terms to protect the business and its owners.
Hire an affordable, professional Attorney to properly draft all the important LLC documents for your business Today!