Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. In Texas, an operating agreement isn’t required to form a ...

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 ...

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 ...

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.

Forming a limited liability company with several members carries the risk that due to a change in circumstances for one of the members it may become necessary to buy out his membership in the LLC.

An operating agreement, even a simple one, can save you time and effort by eliminating uncertainty during the course of operating a limited liability company, or LLC. Not all states require operating ...