Entrepreneur provides an excellent summary of the reasons why a Limited Liablity Company Operating Agreement can fail in this Article. Setting up the business correctly to start and periodically reviewing the changing ownership needs are key to a successful LLC Operating Agreement. The needs and agreements between the parties may change so its important to keep the agreements current. Working with an attorney to draft, negotiate and review the company’s operating agreements and other membership documents is key to a successful business formation and operation. Working with an attorney up front may increase the initial costs of formation, but often times saves money and headaches down the road. The attorneys at Loftin|Bedell, P.C. work with clients on the formation, operation and dissolution of LLCs, Corporations, Professional Corporations, Joint Ventures and partnerships.
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