By clicking “Accept”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.
View our Privacy Policy for more information or to change your preferences.

Why is it important to have it?

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.