Florida’s Trusted Business Attorneys For Operating Agreements
A business is more than just products and services. To have long-term success, a business needs an operating agreement that establishes a strong foundation that supports its business activities. This is where we at Jun Avila PLLC come in. Our Miami-based team works with clients both locally and across the nation.
We know how important it is for you to protect what you have built. That is why we focus on making sure you have the right operating agreement in place. With over 30 years of combined experience, our business attorneys draw on backgrounds from large business firms and Ivy League schools. Our international business experience and multilingual skills allow us to serve a diverse range of clients. Let us help you set the foundation for your company with a tailored operating agreement.
What Is An Operating Agreement?
An operating agreement is a written contract stating how to run your company. Although the specific term “operating agreement” is used most often in the context of limited liability companies (LLCs) and our discussion is couched in terms of LLCs, its analogues can be found in the context of other forms of business enterprises such as corporations and partnerships all of which are within our expertise. It details the rights and responsibilities of each owner of the company. This document serves as the rulebook for your business. An operating agreement helps you avoid future disputes by setting clear guidelines. A strong operating agreement can:
- Protect your personal assets
- Set up management structure
- Clarify profit-sharing
Without one, state laws will dictate how your LLC should operate. This may not reflect your wishes or best interests. Our Miami lawyers can help you create an operating agreement that works for you and your partners.
What Is Commonly Included In An Operating Agreement?
An operating agreement should address all key aspects of your LLC. While every business is unique, there are common topics covered in most operating agreements:
- Ownership structure: The agreement explains who owns the LLC and in what percentages.
- Management roles: It sets out how the LLC will be managed and who has authority to make decisions.
- Voting rights: The document spells out how members will vote on important matters.
- Profit and loss distribution: The agreement details how profits and losses will be split among members.
- Meetings and records: It describes how meetings will be held and how records will be kept.
- Member changes: The agreement sets out what happens if a member wants to leave or if a new member joins.
- Dissolution: It explains the process for winding down the business if needed.
A well-drafted operating agreement covers these and other issues that matter to you. It gives you peace of mind and helps prevent conflicts.
Our Operating Agreement Services
When you work with us, you get more than just a template. We take the time to understand your goals and your business. Our Miami team helps clients nationwide with every stage of the operating agreement process, including:
- Drafting new operating agreements: We work with you to create a clear, customized agreement from day one. Your interests and your business needs come first.
- Reviewing existing operating agreements: We examine your current document to ensure it covers all key areas in ways that are to your best interests. We suggest appropriate updates to strengthen your position.
- Amending operating agreements: As your business changes, your agreement should too. We help you make timely updates so your LLC stays protected.
- Advising on compliance: We make sure your operating agreement meets all legal requirements for your state and industry.
Our lawyers and support staff are top professionals who offer nimble, flexible and personalized services. We have helped clients in Miami and across the country achieve lasting security with strong operating agreements. Let us help you build a foundation you can trust.
What Happens If An LLC Does Not Have An Operating Agreement?
If your LLC does not have an operating agreement, state law will determine the implications of some of your business decisions. This could result in the application of the default rules that may not support your goals. An operating agreement gives you control and protection.
How Long Does An Operating Agreement Last?
An operating agreement lasts as long as your LLC exists. You should update it as your business evolves. It is important to review and revise your agreement to keep it current.
Can I Update My LLC Operating Agreement?
Yes, you can update your LLC operating agreement. Changes in membership, structure or business goals may require amendments. We can help you review and update your agreement whenever needed.
Get Started With A Miami Operating Agreement Lawyer
Protect your limited liability company with a strong operating agreement. At Jun Avila PLLC, we are ready to help you create, review or update your agreement so your business runs smoothly. Please contact us at 305-404-6201 or send us an email to schedule your free initial consultation.