Do I really need an operating agreement for my company? Can I
just use one I found online? Can you just send me a form operating
agreement to use?"
Many of us receive these questions from clients looking for a
quick and easy solution for their operating agreements. While
it's true that an operating agreement isn't the be-all and
end-all of a partnership, it holds significant importance. It
serves as the guiding framework for how a company operates,
outlining the rights and responsibilities of its members. And
because those rights and responsibilities vary across different
members and different businesses, so must the agreements that
describe them.
GET TO KNOW YOUR CLIENT
When crafting an operating agreement, it is essential to
understand the intricate details of our clients' businesses and
aspirations. Understanding how the members intend to conduct
business (or how they've done so in the past) will help guide
the structure of the operating agreement.
