Why does your LLC need an Operating Agreement?

What is an Operating Agreement? An Operating Agreement is a contract between the members of an LLC which serves as the LLC’s governing document. The Operating Agreement outlines voting and ownership percentages, delegates authority to specific managers or members, and determines how distributions of profits and losses, and transfers of interest may occur, among other…

Limited Liability Company: Operating Agreement

Part 5 To read Part 1, click here. To read Part 2, click here. To read Part 3, click here. To read Part 4, click here. Disclaimer: This blog post focuses on North Carolina law and follows the NC Secretary of State rules. We cannot speak nor advise you on what other states’ rules and…

Limited Liability Company: Internal Management

Part 4 To read Part 1, click here. To read Part 2, click here. To read Part 3, click here. Disclaimer: This blog post focuses on North Carolina law and follows the NC Secretary of State rules. We cannot speak nor advise you on what other states’ rules and policies are for limited liability companies.…

Limited Liability Company: Maintaining your Business

Part 3 To read Part 1, click here. To read Part 2, click here. Disclaimer: This blog post focuses on North Carolina law and follows the NC Secretary of State rules. We cannot speak nor advise you on what other states’ rules and policies are for limited liability companies. *This information is taken from the…

Limited Liability Company: Starting the Paperwork

Part 2 To read Part 1, click here Disclaimer: This blog post focuses on North Carolina law and follows the NC Secretary of State rules. We cannot speak nor advise you on what other states’ rules and policies are for limited liability companies. *This information is taken from the North Carolina Secretary of State’s website…

Limited Liability Company: Choosing a Name

Part 1 Disclaimer: This blog post focuses on North Carolina law and follows the NC Secretary of State rules. We cannot speak nor advise you on what other states’ rules and policies are for limited liability companies. *This information is taken from the North Carolina Secretary of State’s website and can be viewed here.  …

Starting a Business: Inc v LLC

PC, PA, LLC, LLP, Inc, LLLP, huh? There are so many acronyms and they’re thrown around all willy-nilly. What’s an aspiring entrepreneur to do? So, here’s the thing. Each of these denotes a form of business, how a business is structured and who the “owner” is. Each is also relates to two special topics: (1)…