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) ...

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 ...

Only a few states require limited liability companies, or LLCs, to have operating agreements. But it is a good idea to have one. The operating agreement protects the limited liability status of the ...

A limited liability company's partnership operating agreement is an internal document that governs the company. The operating agreement establishes the roles and responsibilities of the LLC's members ...

In Texas, your operating agreement (also called a "Company Agreement") is the defining document that governs how your LLC operates. Unlike corporations, which must follow rigid state-imposed ...

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 ...

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.

The owners’ agreement is the backbone of the closely-held business. In intracompany LLC disputes, few things are more important than what the operating agreement has to say on the subject. As a ...

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 ...