Startup Documentation and Operating Agreements
Starting a new company is exciting, to many it’s the American Dream. With hard work and dedication your new company can grow into a successful business that out-lives you and provides for your family for future generations.
Filing regulatory documentation
Every startup has a list of necessary legal documents that need to be filled to ensure proper formation. There are options available to file these documents yourself or even through an online platform. However, it is recommended that you work with a business attorney during this process to help ensure filings are completed properly and on time.
What is an operating agreement?
Operating agreements are an important step in setting up a business to be successful. A well drafted operating agreement can help a business avoid a messy lawsuit and lengthy litigation. Operating agreements outline how a business will be run. These agreements govern all aspects of the way a business functions; including, division of ownership, management, liability, allocation of profits, and taxation. They help a business navigate situations such as growth, change in leadership and any developments in the company over time.
Building an operating agreement
There is no right way to build an operating agreement. It is recommended that you seek the help of a business attorney to ensure it is tailored to your business’ specific needs. At Greiner & Associates, PLLC we help our clients develop an operating agreement that meets their immediate needs and we strive to build a lasting relationship with our clients to assist with their needs for any changes in the future.
Additional startup documents
Along with filing the requisite regulatory documents and drafting an operating agreement, many startups will need to prepare additional agreements and contracts to ensure legal compliance and help the business lay the proper foundation. Common additional start up documents include::
• IP Assignment Agreement
• Liability Releases
• Non-Disclosure Agreements
• Shareholder Agreements
• Investors Agreements
Are you considering starting a business and need help developing an operating agreement?
Or maybe your current operating agreement doesn’t best represent your business needs?