The Operating Agreement is a legal document that outlines the structure, management, and operational guidelines of a business entity, typically an LLC (Limited Liability Company). It details the roles and responsibilities of members, ownership percentages, profit and loss distribution, decision-making processes, and procedures for adding or removing members. This document serves as an internal agreement to ensure clarity, prevent disputes, and formalize the governance of the organization.
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Operating Agreement
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The Operating Agreement is a legal document that outlines the structure, management, and operational guidelines of a business entity, typically an LLC (Limited Liability Company). It details the roles and responsibilities of members, ownership percentages, profit and loss distribution, decision-making processes, and procedures for adding or removing members. This document serves as an internal agreement to ensure clarity, prevent disputes, and formalize the governance of the organization.
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