Why Your LLC Needs An Operating Agreement?
Because, failing to have an operating agreement for your limited liability company (“LLC”) is a major mistake that can have serious consequences for you personally and your business. It’s not just a piece of paperwork, it’s a key legal document that outlines the rules and regulations of your LLC and business, as well as provides personal protection for you and the other members of your LLC.
Without an operating agreement in our litigious society you open yourself up to the risk of personal liability and loss of the limited liability status that is inherent in an LLC structure. Your business may closely resemble a sole proprietorship or partnership, putting your personal assets at risk if there’s any legal action taken against your business.
Don’t rely on state default rules to govern your LLC. These rules are general and often not specific enough to meet the unique needs of your business. An operating agreement clarifies verbal agreements and helps with financing from lenders, making it a vital document for the success and stability of your LLC.
It’s not just a wise decision, it’s often a legal requirement depending on the state in which your LLC was formed. Don’t take any chances when it comes to the success of your business. Our attorneys are highly knowledgeable and experienced in drafting operating agreements that protect your interests and meet the needs of your LLC. Our virtual law office makes it easy and affordable for you to schedule a consultation and get started on the path to success. Don’t let the lack of an operating agreement hold you back. Reach out to our business law practice group at businesslaw@scattorneysatlaw.com to secure your business and protect your personal assets. Don’t wait, act now!
You can schedule a consultation with one of our attorneys HERE.
