Operating Agreement

A legal document that outlines the ownership structure, management rules, and operating procedures of an LLC. It defines member roles, profit distribution, and decision-making processes.

Used in these documents:

Llc Operating Agreement

Related Terms:

LLC (Limited Liability Company)

A business structure that combines the liability protection of a corporation with the tax flexibility of a partnership. Members are not personally liable for company debts.

Disclaimer

This definition is for informational purposes only and does not constitute legal advice. Consult a licensed attorney for specific guidance.