Perhaps the most important documents for the operation of your business is the operating agreement, or bylaws of your company.
These documents act as a "constitution" for your company and determines how the owners and members act when issues arise. In many cases, bylaws are not legally required, but they are always highly recommended.
Writing the bylaws is a collaborative process between your attorney and your other partners/fellow owners. Even a business with only one owner, like a sole proprietor or a single-member LLC, should have bylaws. They provide legal protection as well as clarity. We will work closely with you and your partners so your preferences and ideas can be incorporated into the bylaws.
Examples of critical topics in bylaws:
1. Annual meetings of board of directors and the rules surrounding the notice of those meetings.
2. Rules on hiring and terminating officers
3. Rules to handle conflicts of interest and to spell out duty of care
4. Rules regarding to financial recordkeeping
5. Procedures for dissolution
While all this may sound daunting, we will strive to make this process as easy and painless as possible! Please contact us if you require our assistance in drafting these important corporate documents.