Lindsey Crossmier has been a financial writer since 2022, and has been regularly quoted as an expert in outlets such as U.S. News, GOBanking Rates and Yahoo! Finance. She leverages her Yale financial ...

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 ...

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 ...

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 ...

An operating agreement is a type of document commonly used for small business organized as limited liability companies. It lays out the structural and management details of the business, and is ...

In Texas, an operating agreement isn’t required to form a limited liability company (LLC). However, business attorneys, accountants and advisors agree that no LLC should form without one. An LLC ...

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 ...

It’s probably safe to guess that of New Hampshire’s 75,000 or so single-member and multi- member LLCs, only a small fraction have any written operating agreements at all, much less competently drafted ...

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.

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 ...