An LLC operating agreement is a binding contract between members describing how profits and losses are shared and whether your LLC is member- or manager-managed. It serves to resolve member disputes, dictate responsibilities and more. Operating agreements aren’t always required by law but have an attorney or legal service draft one to include in filing…
A mission statement is a short, meaningful phrase that summarizes the purpose that drives your business. Similar to your business’ vision (the “what”) and values (the “how”), your mission statement answers the question of why you do what you do. We’ll take you through a simple six-step process to develop your business mission statement. We’ll…
A limited liability partnership (LLP) agreement is a professionally licensed partnership that protects partners from personal liability of business decisions. These legal entities serve as pass-through entities for tax purposes and are organized to specifically help certain licensed professionals such as lawyers, accountants or architects. An LLP is easy to set up and administer. You…
