An LLC operating agreement is a legal document that outlines the operations and management of the LLC, and sets out the rights and obligations of the LLC’s members. As we noted above, you’ll need an ...

Two principles often guide courts’ interpretation and enforcement of contracts. First, courts respect parties’ freedom of contract, mostly. So long as an agreement is not illegal or violative of a ...

An operating agreement (for an LLC) or shareholders’ agreement (for a corporation) is where you and your partners decide how the relationship really works. Without it, New York’s default rules step in ...