WHY DOES EVERY LLC NEEDS AN OPERATING AGREEMENT? The Operating Agreement for a LLC is the essential document that is referred to when issues and lawsuits concerning the LLC need to be resolved. The Operating Agreement is by far the most important and essential document for your LLC, and when you form an LLC, you should… Continue reading The Importance of an Operating Agreement
New businesses, or start-ups, often struggle later on its the business's life due to how the business was originally set up or organized. This is more often a problem with businesses with more than one founder, since at one point or another, personalities and ideas will clash between the founders or later buy-ins. Too often, business co-founders… Continue reading Important Considerations for Business Co-Founders to Consider
Most business owners know to keep their business assets separate from their personal assets. However, there are many small business owners that do not. This is a bad idea, both legally and logistically. If you have paid the money to an attorney or to the government to set up a business entity, whether a L.L.C.… Continue reading Commingling of Business & Personal Funds (And Why It Is A Bad Idea)
