An LLC operating agreement isn’t required in most states, but it’s an important legal document for a business. Many, or all, of the products featured on this page are from our advertising partners who ...

Kelly Main is a Marketing Editor and Writer specializing in digital marketing, online advertising and web design and development. Before joining the team, she was a Content Producer at Fit Small ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

A limited liability company operating agreement is an important document that formalizes the relationships between the co-owners of the LLC. The operating agreement, which is a requirement in some ...

Do single-member LLCs need written operating agreements? The question may seem odd, since, by definition, single-member LLCs have only one member, who thus completely controls his or her (or its) LLC.

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 ...

LLC operating agreements frequently provide for indemnity to the LLC’s manager. This is consistent with the statutory default rule embodied by California Corporations Code section 17704.08(a), which ...

Florida doesn’t require limited liability companies (LLCs) formed in the state to have an operating agreement, but if you’re forming your LLC in the Sunshine State, it’s still a good idea to have one ...

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.

Shelby Fishman is an assistant editor for MarketWatch Picks. Previously, she served as an assistant editor for custom content at Barron’s Group. Shelby studied broadcast journalism at Southern ...

Once you have registered your restaurant as a limited liability company, you will need to draft an LLC operating agreement to dictate the terms of how your business will be run and the process for ...

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 ...