Wednesday, February 22, 2012 | Business Services >Operating Agreements
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OPERATING AGREEMENTS
 
LLC operating agreements are much like corporate bylaws in that both types of documents govern the workings of your business.
 
LLC operating agreements allow the owners of a business to configure the running of their business in a way that best suits their needs.  Normally, an operating agreement for an LLC will lay out various key points, such as each co-owner's percentage ownership share of the business.  In addition, LLC operating agreements lay out the share of profits - or losses - that each owner will receive, the rights and responsibilities of the owners, and typically also detail what will happen to the business if one of the owners leaves.
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