Congratulations are likely in order for filing your limited liability company, if not in the minute, we are sure it is around the corner. Whether you are starting this new business with a family member, friend, or trusted individual, an Operating Agreement will honor your vision and protect the time, energy and financial investments.. There are many considerations beyond the split of the profits (or losses) but also what’s next if you or your business partner finds another calling or may have a disagreement. Clear expectations and proactive solutions are key to a strong legal foundation, so you and your business can focus your attention on your thriving business.
An Operating Agreement should be just as unique as your business is. With this in mind, an Operating Agreement template can be tailored to specifically reflect your intentions and establish clear expectations to guide the behind the scenes of your business. With this template, not only will we cue you for all the specifics so that you can customize the template in minutes with the help of our video tutorial and implementation guide, but provide priceless peace of mind!
- Establish company name, purpose, statutory agent, and place of business.
- Establish capital investment from all members.
- Identification of the allocation and distribution of business profit and losses.
- Protection of each member’s right to manage company business and their voting rights on unanimous decisions.
- Options for the level of involvement and the requirements for each member.
- Outline for consistency in maintaining books, records, accounting, reports and tax documents.
- Options for a member buyout in the event of a member decision to focus on new pursuits, or their death or disability.
3 EASY STEPS TO BE LEGALLY ALIGNED:
- Access your legal vault, the home of your contract template purchase (plus any of its updates).
- Watch the video tutorial and fill out your contract template in minutes, while gaining the understanding of what it all means. Because with knowledge comes confidence.
- Use the step-by-step checklist in our implementation guide. You’ll never have to wonder if you filled out the contract template correctly or second guess what’s next as you implement the contract seamlessly into your business.
Stay in the know. Whenever there are updates to a contract template you have purchased, you will get an email and have instant access via your legal vault.