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Year: 2021

How to Choose a Business Structure

One of the most important choices you will make, after deciding to start a business, is deciding which legal structure is right for you. This decision will impact your future liability, the amount of control you will be able to exercise, how complex the requirements will be, and much more.

What is an operating agreement and why should your business have one?

What is an operating agreement? An operating agreement, also known as a buy-sell agreement, is a document that tailors the terms of a limited liability company (LLC) to meet the specific needs of its owners. The agreement thus clarifies the internal operations of the LLC according to its members. It also outlines the financial and functional procedures of the business as well as what happens if one member wants to sell their interest to someone else.