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Operating Agreement

Get a legal document so you can outline the rules of your company.

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What is it?
What are the types?
Why is it important to have it?

In any incorporated company, it is important to get a document that outlines the different internal agreements that ensure the proper functioning of the business. This document is called Operating Agreement for an LLC or Bylaw if it’s for a Corporation.

The Operating Agreement or Bylaw is the one that stipulates the membership, administration, operation and distribution of the company's income. Likewise, it allows documenting the roles, responsibilities, rights and relationships of the members or partners, as well as their respective percentages of participation or shareholding distribution.

This document can be named differently depending on the type of business:

  • Operating Agreement: For an LLC (Limited Liability Company).
  • Bylaw: For a C-CORP or S-CORP.

Having this document could represent an advantage for the company as it will allow the partners to establish the rules as desired.

Additionally, in some states the incorporation documents don't reflect the percentages of participation or shares, so it's important to have an internal document that stipulates them.

Also, it's important to get it before opening the business account, cause the Operating Agreement or Bylaw is a document required by some banks.

Frequently Asked Questions

Can I choose internal clauses to add to the document?

If you have any internal clauses that you want to add, you can. Note that the structure of this, and the essential clauses must remain.

How is this document processed?

It is a simple process carried out under the official structure of the United States. Only the documents of the company and the partners are required to start the process.

What is the delivery time for this document?

Our team takes a maximum of 48 hours to have the document ready for you.

Does this document have to be signed by all partners?

Yes, it has a specific space for the signature of all the partners at the end of the document. Additionally, each page should include the initials of the partners.

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