The Capelle Law Firm
What Should Be In My Operating Agreement or Bylaws?
13 September 2019
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What Should Be In My Operating Agreement or Bylaws?
Corporate bylaws and LLC operating agreements provide important guidelines for operating your business. These documents explain such things as how decisions will be made, when and how shareholder meetings are held, how to handle LLC ownership changes, and how shares of stock are issued. If you have more than one owner, you can also set the rules in case one wants to leave the business, sell their interest or dies. You can put your business succession plans into your operating agreement.
If you would like to discuss any of these subjects, contact us for a free consultation.
The Process
Executing a Confidentiality Agreement
This is like dating- the parties begin to find things out about each other.
These are commonly signed before any information is given out about the Seller.
While not a “standard” form, these agreements are generally all similar.
After confidentiality agreement is signed the Buyer normally receives a significant amount of information about the Seller.
Most businesses are sold by first time sellers. This blog is intended to provide you some insight on the process of selling your business.
Lawsuits from employees
Adopt internal written policies and procedures, job descriptions, employment contracts and employee manuals and follow them even if you don't want to. Policies which are not enforced or enforced selectively may not be policies at all.
