Operating agreements are pivotal in outlining a business’ financial and functional decisions. It’s the guiding document that bonds and legally protects business partners. Nonetheless, up-and-coming ...

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 ...

Two principles often guide courts’ interpretation and enforcement of contracts. First, courts respect parties’ freedom of contract, mostly. So long as an agreement is not illegal or violative of a ...

It’s probably safe to guess that of New Hampshire’s 75,000 or so single-member and multi- member LLCs, only a small fraction have any written operating agreements at all, much less competently drafted ...

It is far preferable for LLC members to consult with the proper advisers when preparing operating documents—and to ensure they draft them effectively. The documents are much more than formalities and ...

The harried realities of modern life are such that business entity organizational documents, like LLC operating agreements, sometimes do not get drafted or executed until long after the entity’s ...

When creating an entity, a common misconception is that anyone can set up the entity on their own since it is “just a filing with the state.” Since it is just a state filing, an attorney does not ...

This article, written by litigators, is intended to inform drafters of the need for clearly delineated rights to indemnification, on one hand, and fee advancement on the other. It surveys New York's ...