Some corporate structures are required to create legal documents that outline basic information about the business, such as the purpose of the organization or how the company will operate. For ...

Shelby Fishman is an assistant editor for MarketWatch Picks. Previously, she served as an assistant editor for custom content at Barron’s Group. Shelby studied broadcast journalism at Southern ...

An LLC operating agreement isn’t required in most states, but it’s an important legal document for a business. Many, or all, of the products featured on this page are from our advertising partners who ...

In Texas, an operating agreement isn’t required to form a limited liability company (LLC). However, business attorneys, accountants and advisors agree that no LLC should form without one. An LLC ...

Operating agreements are pivotal in outlining a business’ financial and functional decisions. It’s the guiding document that bonds and legally protects business partners. Nonetheless, up-and-coming ...

It is far preferable for LLC members to consult with the proper advisers when preparing operating documents—and to ensure they draft them effectively. The documents are much more than formalities and ...

Operating and franchise agreements are both used to structure the way businesses function and the responsibilities that business owners have. However, they are used in notably different situations. An ...

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An LLC operating agreement is a legal document that outlines the operations and management of the LLC, and sets out the rights and obligations of the LLC’s members. As we noted above, you’ll need an ...

I often hear vessel owners, brokers and others in the marine industry ask why they need an attorney to form a limited liability company, when filing one form online can typically accomplish it. The ...