Every limited liability company should have an Operating Agreement. It is amazing how many business people approach us, who have a legitimate problem with a partner, and who either have never signed an Operating Agreement, have executed a cheap form Operating Agreement found on the internet, or simply lost the one that the partners originally signed. Common sense suggests that having an airtight Operating Agreement would be a worthwhile investment. However, for a lot of business people, that is simply not the case.
Here are some suggested items that should be included in an Operating Agreement and how business owners should get one done.
There is no substitute for a tightly worded well considered Operating Agreement. If there will be points of contention, or disagreement among partners, the best time to have it is at the beginning, not after the business is already operating. Competent counsel can certainly assist in this task in order to prevent costly litigation later on.
In the world of high-end residential real estate, developers are constantly pushing the boundaries of…
The reading of a community association’s election results can be filled with mixed emotions ranging…
A well-drafted partnership agreement among law firm partners is often the initial step to long-term…
The leadership team at Haber Law today announced the promotion of long-time office administrator, Nilka…
Haber Law Equity Partner Roger Slade and Senior Associate Eddie Holiday prevailed in a two…
The developer of the planned Edition Residences in Miami’s Edgewater is on unforeseen footing after…