Drafting an Operating Agreement
A limited liability company is an important legal option for your business that can both protect you personally and give your company added credibility in the eyes of stakeholders. LLCs are governed by operating agreements. These are binding on your LLC, so it is important that you get it right when you first draft it. Otherwise, you could end up in costly litigation. Even though Florida law does not require your LLC to have an operating agreement, it is a good idea to have one anyway. There are a number of choices that you must make when you are drafting an operating agreement. Here are some things that your operating agreement should cover: The number of members How management is to be structured Member investment in the LLC How profits…