One of the most popular types of business formation is a limited liability corporation, often referred to as an LLC. When you are establishing an LLC, it is important to consider also establishing an operating agreement, especially if you have other members in your company.

What Should Be in the LLC Agreement?

This agreement will outline the specific duties and needs of each member, as well as specify what the decision-making process will be.

• Business purpose
• Statement of intent
• Corporate governance
• Financial interest
• Arbitration
• Dissolution of the LLC