In this brief video, J. Anthony Allen walks through the first section of an operating agreement, labeled “General Info.” He explains that this part should contain basic but essential details such as the business name, location, and correct mailing addresses for all members (owners). He emphasizes that partner organizations—lawyers, accountants, etc.—can also be listed here and that the agreement can be updated later as long as all parties agree. The segment ends with a transition to the next section on management.
Chapters
Okay, the first part of our operating agreement, we're going to just call general info. So this is stuff like, why is my font so huge? I think it's because I'm, like, way zoomed in. This is stuff like the name of the business where the business happens. Nothing brilliant goes in here. Just make sure that everything's right. Be sure you have correct mailing addresses of all members. And remember, members means owners. Any partner organizations you can list here, even if they change later, you can always update an operating agreement. That's another important thing to remember is that if down the road, you say to your partners, hey, hey, our operating agreement says we're going to do this, but clearly that's not a good idea anymore. Let's update it. As long as you all agree, you can, you know, remake the operating agreement and you can update it, that's totally fine, but you got to get everyone to agree. So with that, I was going to say partner organizations, like your lawyer, your accountant, man, my Microsoft Word is just being a jerk. Why would it do that? Okay, let's do that. All right, whatever. You can list all of those in that general information. So just so that there's no doubt on who to call in what situation. So that first part, general information. Real easy. Let's go on to the management part.
