Overseeing a business operation can be very tedious for most people; on the other hand, it can be quite entertaining to some. Operating agreement, as how Wikipedia would like to define it, is a certain agreement between the limited liability company or better known as the LLC members who are managing the company including its financial as well as managerial duties and rights.
It surely is commendable to have an operating agreement in your company. You can also consider checking out this page’s Sample Agreements for free that you can find helpful and a lot more useful for your future reference toward your business growth and goals.
Sample Joint Operating Agreement
Operating Level Agreement Example
Business Operating Agreement
Sample Operating Contract Agreement
Blank Operating Agreement in PDF
Other than that, here are also some examples of General Partnership Agreements as well as examples of LLC Operating Agreements that you may find useful and rather helpful toward achieving your business goals as well as developing it either for the short term and for the long term.
On the other hand, if you would want to draft your own business operating agreement, you can definitely do so. Here are the terms that must be included on an operating agreement to give you some ideas and quick tips.
- Name – this part here is for the company’s name. A company or a business statement alongside the name is also acceptable.
- Term – this would specify the time frame or the duration of the company. According to the balance, most often than not, the length would be perpetual unless a certain duration or time frame is being specified.
- Purpose – this part would clearly state some sort of a mission-vision statement or something that would have it to an understanding of why the company was formed.
- Liability of Members – this part would clearly specify the obligations, the debts as well as other liabilities does not belong to the members but rather to the company.
- Contributions – this part indicates the contributions of each member or what each member has brought to the table as their individual contribution for and to the company.
Operating Management Agreement
Corporate Operating Agreement
Operating Rental Agreement Format
Sample Generic Operating Agreement
Operating Services Agreement
Partnership Operating Agreement
Other than that, you can also have a look at examples of Joint Venture Agreements for free that you may also find quite interesting and useful in terms of dealing with the subject matter. Apart from that, it can definitely help you as well as guide you toward your entrepreneurial and business endeavors that you are currently facing as well as for future reference.
Types of Operating Agreements
- Partnership Agreements – According to the balance, this type of operating agreements are mainly drafted to help prevent disputes between owners. More often than not, this type of operating agreement involves small businesses with more than one owner that have not incorporated and are considered partnerships by the state.
- Owners Agreement Details – this type of operating agreement essentially focuses on the basic elements of the company. According to Small Business Chron, this type of operating agreement would usually include the members’ ownership percentages, distributions of profits and losses, powers and responsibilities for both members and employees, requirements for meetings, rules for voting, and any conditions that would allow members to buy out or transfer their ownership.