An LLC operating agreement isn’t required in most states, but it’s an important legal document for a business. Many, or all, of the products featured on this page are from our advertising partners who ...

An LLC operating agreement is a legally binding document that outlines the LLC’s preferred operating, management and financial procedures. Its purpose is to guide the business’s internal operations ...

Opinion: Minority members of limited liability companies should work to draft operating agreements that allow them more control over the agreements’ provisions.

Do single-member LLCs need written operating agreements? The question may seem odd, since, by definition, single-member LLCs have only one member, who thus completely controls his or her (or its) LLC.

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. An LLC operating agreement is a legal document that outlines ...

It’s probably safe to guess that of New Hampshire’s 75,000 or so single-member and multi- member LLCs, only a small fraction have any written operating agreements at all, much less competently drafted ...

An LLC is not always required to have an operating agreement, but it's a bad idea to get rid of an existing one. The operating agreement is a consensus of the members on how the company should be run.

Opinions expressed by Entrepreneur contributors are their own. Every limited liability company (LLC) needs an operating agreement to serve as its backbone and ensure that partners are treated fairly.

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. Florida doesn’t require limited liability companies (LLCs) ...