- An experienced business attorney has drafted many operating agreements and therefore can help you forecast potential disputes down the road that you may have never thought of.
- An attorney can help determine whether your LLC is member-managed or manager-managed and draft your operating agreement accordingly.
- Hiring an attorney from the onset can help you avoid a number of mistakes in drafting operating agreements. It is always easier to agree at the beginning of a business venture, versus down the road when the company has been up and running.
- An attorney can help ensure that the agreement is an accurate representation of what the company and its members desire.
- An attorney can make recommendations when it comes to tricky matters such as “special allocations” of personal liability and distributions, successorship, buyouts, etc.
Note: Remember an Operating Agreement is a working document. This means that after your business is up and running, you should revisit your operating agreement at least every 6 months to make sure it accurately reflects how you are actually operating your business. If you are operating in a manner that contradicts your Operating Agreement, it will need to be revised.
If you would like a quote for an Operating Agreement for your business, please fill out the following: Meglino Law Contact Form