Click here to learn more about operating agreements. Using an attorney to draft your operating agreement can give you the peace of mind that you are safeguarding your interests in a legally valid document that will hold up in court. The operating agreement is a legally binding document that explains your rights and duties as an LLC member and helps protect you from personal liability. Practical legal advice can provide you with a plan that meets your needs and protects your interests.Īfter you have a plan in place, it should be made legally binding through a custom operating agreement. Speaking with an attorney who can explain these issues to you can help eliminate potentially incompatible business partners and help avoid potential disputes in the future. It is important to consider how your LLC will be managed, the rights and duties that each member will possess, and much more. Many steps are required to ensure you receive the full advantages that LLCs can offer. There are many reasons why an LLC could be the right choice for your next business venture. The type of entity that you choose to operate your business will determine your legal rights and liabilities as an owner/operator of that business. LLCs possess the limited liability and asset protection of a corporation with the managerial flexibility and asset privacy of a partnership. Read below or navigate through my site to learn more about LLCs.Īn LLC is a legal entity structure that offers many of the best features of corporations and partnerships. I’m Mike Lustig, a Denver-based attorney and entrepreneur who provides entity formation services throughout Colorado. On this site, you will find information that can help you know more about LLCs and whether forming one is the right choice for you. A limited liability company (LLC) is a powerful tool that you can use to protect yourself or your business.
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