The Importance of Operating Agreements in Multi-Owner Businesses

Описание: An operating agreement is the most important document for a multi-member LLC. It defines how profits and losses are shared, how disputes are resolved, how capital is managed, and how ownership changes are handled. Without one, generic state default rules apply—often leading to unintended tax, financial, and governance consequences. A well-drafted operating agreement protects the business, preserves member relationships, and ensures legal and tax compliance. Learn more: https://www.cummings.law/the-importan...