An LLC may have a functional enterprise agreement, even if only one person is involved in the business. The agreement serves as additional documentation for the company to operate under the aegis of limited liability and not as an individual company. One way to act as a real business is to have the same type of documentation that other owners of limited liability companies have. An LLC with more than one owner (called “members”) has a document called an enterprise agreement, which is prepared with the help of a lawyer when the transaction begins. With LegalZoom, the emerging owners of the “no” will probably save them a lot of time and could potentially save them money. As a company, LegalZoom has fulminated 15 years of success with customers. The site is extremely user-friendly, and customer reviews are generally very positive. LegalZoom, however, is not an appropriate substitute for legal representation and cannot offer the same protection as that afforded by an authorized business lawyer. You can use online services to establish a business agreement, but you are better served by getting help from a lawyer.
Your lawyer can ensure that all relevant clauses are included and he or she can tailor the document to your state`s requirements. Founded in 2001, California-based LegalZoom describes itself as an online legal technology company that seeks to reshape the legal industry by offering convenient, affordable and quality legal solutions. According to the LegalZoom website, over the past 15 years LegalZoom has provided services to nearly four million families and small businesses making it one of its kind leaders on the Internet. A business agreement is a document that describes LLC`s activities and defines agreements between members (owners) of the company. All LLCs with two or more members should have an enterprise agreement. This document is not necessary for an LLC, but it is in any case a good idea. A business contract also clarifies what happens if the owner dies or is unable to manage the business. ; that is, it establishes an estate plan.
Your operating contract should contain a clause that determines who manages the LLC if you are unable to do so. Without this particular provision, it can be difficult for your family to pursue or get rid of the case without a lengthy dispute.