At Yanger Law Group, P.A., our lawyers assist in the drafting and enforcement of operating agreements for companies and LLCs throughout Florida.
Operating agreements act as the bylaws or governing agreements of an LLC, providing both owners and the government a clear understanding of the rights of all stakeholders, as well as protocol for handling any issues that may arise. In most cases, it is set in place during the business formation period.
The operating agreement adds a level of formality to an LLC that distinguishes it from sole proprietorship, partnerships or another formation that would leave the owners vulnerable to liability. It provides clarity to all members in ownership, solidifying understandings or verbal agreements that have been made.
A sound operating agreement will also provide you legal protection from government oversight and rules that would apply to most LLCs by default.
Tampa LLC Operating Agreement Lawyer — Handling Operating Agreement And Corporate Governance Disputes
Generally, the operating agreement will outline:
- The mission and duration of the business or company
- Management positions and individuals named to those positions
- Decision-making processes
- Extent of liability for all members
- Withdrawal and contributions of capital
- Transfer protocol and restrictions
- Contingencies for issues like deadlock, succession and dissolution
- Noncompete agreements and covenants
- Confidentiality agreements
Our attorneys provide skilled representation not only in the drafting of such agreements, but also in their enforcement. To discuss your company's operating agreement and the legal options available to you, please contact our Tampa, Florida, law firm today at 813-286-7025. We provide representation to companies throughout the country and worldwide with business interests in Florida.