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Archive for May, 2013

What Is An Operating Agreement?

Posted May 9 2013 by with Comments Off

While managing your LLC you have undoubtedly come across the term “operating agreement” and you may have questioned the legal significance.  In short, the LLC operating agreement provides the legal terms that govern your business by establishing the LLC’s purpose, how its run and each member’s rights and responsibilities. Whether you have a single-member LLC or a multi-member LLC, it is strongly recommended as it is where everyone will look for guidance when there is a major business issue.  And with growth and success, you can expect an issue or two at some point.  Therefore, let’s consider the following: Continue Reading…