Drafting the Initial Corporate Documents
01.The LLC Operating Agreement
An Operating Agreement is an internal document defining who owns the LLC, how profits are divided, how decisions are made, and what happens if a member wants to leave the company.
02.Corporate Bylaws
Bylaws are the internal rules governing a corporation. They detail board of director meetings, shareholder voting, officer positions, and stock issuance guidelines.
03.Why Internal Agreements Matter
Even for single-member LLCs, having an Operating Agreement is vital because banks require it to open accounts, and courts look at it to confirm that the business is operated as a separate entity.
