Discover 3🔑 reasons for a solid LLC operating agreement! 💼📜 Don't risk your business!

25 May 2023 · 1 min

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New LLC owners often skip creating an operating agreement, a 15-to-20-page document outlining internal rules. Without one, you lose personal asset protection in court, have no proof of ownership if your state doesn't require member names on filings, and default state laws take over your business instead.

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Don't make this mistake when registering an LLC for your business. One of the top mistakes that I see new LLC owners make is not having an operating agreement, and here are 3 reasons why they're very important. By the way, an operating agreement is typically a 15 to 20 page legal document that sets forth the rules and procedures for your LLC. So the first reason it's important to have one is because if you ever get into legal trouble with the LLC, then it could be used as a factor against to when determining whether to pierce the veil of protection. Second, having an operating agreement is sometimes the only document that proves who owns the LLC because many states don't require you to list the names of the owners, and some don't even ask for the names of the owners. And third, if you don't have an operating agreement, then the state's LLC laws will automatically apply to your business.

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