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 ...

An LLC operating agreement isn’t required in most states, but it’s an important legal document for a business. An LLC operating agreement can serve as a directive for a limited liability company and ...

I get asked this question all the time. Why do I need an Operating Agreement? To keep your Limited Liability Company (LLC) in good standing, there’s one very important document you should have - an ...

An LLC is not always required to have an operating agreement, but it's a bad idea to get rid of an existing one. The operating agreement is a consensus of the members on how the company should be run.

How Do I Bind Thee (to an LLC Operating Agreement)? Let Me Count the Ways A recent appellate decision clarifies the point at which members—either existing or subsequent—may be bound by an operating ...

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 ...

I often hear vessel owners, brokers and others in the marine industry ask why they need an attorney to form a limited liability company, when filing one form online can typically accomplish it. The ...

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 ...