Protect Your Business’s Future With A Strong Operating Agreement
The steps you take when starting a limited liability company can significantly influence your business’s long-term success. In Texas, there are numerous legal issues to consider as you get your company off the ground. One is getting a solid operating agreement in place.
Filippov Law Group, PLLC, understands the importance of careful planning when launching a business. Based in Houston, the firm stands ready to help you navigate the intricacies of operating agreements to pave the way for your LLC’s future.
What Is An Operating Agreement?
It is an agreement by the owners of an LLC that outlines the rules, guidelines and procedures that will steer the company. Such agreements can cover many topics, such as:
- Ownership percentages
- Rights and responsibilities of the owners
- Distribution of profits and losses
- Management structure
- Decision-making processes
- Meeting protocols
- Voting procedures
- Tax considerations
- Rules for addressing an owner’s death or business dissolution
Owners can customize each element to align with their company’s specific needs.
The Importance Of Operating Agreements
Texas law does not require LLCs to have operating agreements. However, these contracts can have considerable advantages for businesses and their owners. A thoughtfully structured operating agreement can:
- Set clear expectations for all parties
- Help prevent future conflicts by getting in front of potential misunderstandings
- Reduce unpredictability in business operations
- Minimize personal liability for the owners
- Exempt a company from the state’s default rules
For an operating agreement to deliver these benefits effectively, it needs to be well-crafted and reflect the unique aspects of your business.
Get The Right Agreement For Your Business
Filippov Law Group, PLLC, is ready to guide you through every stage of creating and maintaining a robust operating agreement. Founding attorney Victoria Filippov Nemeth has over two decades of experience. She offers intelligent business law guidance and support focused on your goals. She can help with drafting, reviewing and negotiating the terms of your operating agreement. Her focus will always be on ensuring it is aligned with your needs and objectives. Additionally, should disputes arise regarding your operating agreement, she can protect your interests through litigation or other resolution methods.
Put Your Business On A Solid Legal Foundation
Let an experienced business lawyer help you lay the groundwork for success. Send an email to Filippov Law Group, PLLC, to learn more about how the firm can fortify your business with a strong operating agreement.