The LLC is the most popular type of Delaware business formation. In these blogs, we examine all aspects of LLCs, including LLC Operating Agreements.
Business License or LLC? Which Comes First?
Tuesday, October 15, 2019
Obtaining a business license is not the same as forming an LLC or other legal entity for your business. Whereas the license approves your specific business in a certain jurisdiction, an LLC provides an official, legally-recognized business structure... Read More
Creating an Operating Agreement for Your Band
Monday, May 20, 2019
One of the most common and straightforward ways to define the structure is to form an LLC for the band. Forming the company means creating an LLC Operating Agreement, which allows the band to formalize roles and responsibilities of its members... Read More
LLC Change of Ownership Checklist
Monday, April 29, 2019
Members of an LLC may change the LLC’s ownership and the terms governing its management and operation by amending its operating agreement. Here are five parties you’ll want to inform when you do so to avoid putting your company at any undue risk... Read More
Delaware LLC Ownership Units
Monday, April 15, 2019
One of the key components of the Delaware LLC that makes it so popular is that the ownership, membership, management and operations of the LLC are all handled internally, via the LLC Operating Agreement... Read More
What Does an LLC Operating Agreement Do?
Monday, March 4, 2019
An LLC Operating Agreement covers many aspects of the LLCs structure, including ownership, membership, management, day-to-day responsibilities and more. Learn more about this important document and what aspects of the LLC it governs... Read More
Who Can Be a Member of an LLC?
Tuesday, November 27, 2018
Anyone in the world can be a member of a Delaware LLC or corporation. Generally, the members of an LLC are individuals, but it doesn’t stop there. Many people opt to set up the Delaware LLC with another company as the member. This can be a corporation, LP or even another Delaware LLC... Read More
LLC Transfer of Interests [with templates]
Tuesday, November 20, 2018
In Delaware, the LLC Operating Agreement spells out all conditions of future sales or transfers. Traditionally, the LLC Operating agreement is amended internally within the LLC only... Read More
Delaware LLC Requirements to Get a Federal Tax ID
Tuesday, October 2, 2018
Once a Delaware LLC has its Certificate of Formation stamped and approved by the state of Delaware, the next step is to obtain a Federal Tax ID Number, also known as an EIN, from the IRS... Read More
Operating Multiple Businesses Under One LLC
Tuesday, September 18, 2018
It is possible and permissible to operate multiple businesses under one LLC. Many entrepreneurs who opt to do this use what is called a "Fictitious Name Statement" or a "DBA" (also known as a "Doing Dusiness As") to operate an additional business under a different name... Read More
The Structure of the Limited Liability Company
Tuesday, February 27, 2018
A member of an LLC may also function as a manager, but an LLC does not need to have a manager; members can run the company on their own. As for managing-member vs member classifications, it is simple: when a member is also a manager, he or she is usually referred to as a "managing-member.".. Read More