An operating agreement is a contract that controls your LLC’s operations as well as member interaction with each other and with the LLC. You may think that an operating agreement is not necessary for your single-member LLC – after all – why make an agreement with yourself?
“Business and friendship don’t mix” is advice that many experienced business owners give to new entrepreneurs. It’s more than an old cliche, though. Statistically, business ventures that involve the partnering of friends have a higher failure rate in comparison to other business part
Did you know that out of the estimated 18 million companies headquartered in the United States, more than 80% are family owned? It’s hardly surprising that these same family companies account for about 50% of the U.S. gross domestic product, and, furthermore, employ over 60% of the co
Businesses, in general, are rarely static. Some grow quickly in their first years of operation, while others, unfortunately, never gain momentum. As a business owner, you need to make sure you have a solid plan in place, with appropriate legal documents, in case your business takes an