Promoters tout the limited liability company as an excellent entity choice for new and small businesses given the flexibility associated with the structure. While generally true, flexibility also creates traps for the unwary. One such pitfall concerns the operating agreement. Why is an operating agreement important? Let’s take a look.
Operating Agreement Lies
“Form an LLC! LLCs are perfect for your new business!
You don’t even need an operating agreement in most states!” [Read more…] about Why Is An Operating Agreement Important?