If you’re a business owner, you’ve put in countless hours into building up your business and making it profitable. However, you must ensure that you have a comprehensive operating agreement because it is one of the best ways to protect your business from costly disputes to help your business stays afloat.

Basics of an Operating Agreement

An operating agreement is a document that contains many pieces of critical information regarding your business specifically your limited liability company (bylaws are the equivalent document for a corporation)….