Operating Agreements

Establishing the Rights and Duties of Your Company’s Ownership

When you are joining with business partners, colleagues, family members or other parties to start a new commercial enterprise, you need to ensure that everyone shares the same vision and goals for the company. While business partners are generally able to agree on the company’s initial strategies and objectives, disagreements and challenges are likely to arise as the company grows and moves forward. These internal conflicts and disputes can disrupt critical operations and jeopardize the future of the business. Fortunately, Allen Carlson can assist you to take steps to anticipate and address potential problems down the road by making sure that you have a well-drafted operating agreement in place.

An operating agreement is a business contract that sets forth the relationship between the ownership (“members”) of a limited liability company (LLC). Like a shareholder agreement typically used in smaller corporations or a partnership agreement for partnerships, the document establishes rights and duties among the company’s members. Though each operating agreement is different with its own unique terms and provisions, a properly drafted agreement should address operational responsibilities and how decisions are to be made for the corporate entity.

Tailoring Agreements to Serve Your Unique Needs and Objectives

At Allen Carlson PLLC, our legal team has extensive experience drafting operating agreements, as well as partnership and shareholder agreements. We have a full understanding of the different features associated with each type of corporate entity and work with our clients to structure agreements that avoid future problems and facilitate the success of the operation.

Whether we are working with a partnership, corporation, limited liability company or any other business entity, we craft the operational documents to meet the specific needs and structure of the business. In our practice, there are no standard forms or templates. Rather, we take the time to listen to our clients and work with them to develop documents that reflect the unique circumstances of the business and its owners. Our attorneys also look to the future, making sure that our clients’ operating documents address matters that may arise throughout the life of their company. When needs and circumstances change, we are here to advise our clients and make any necessary changes to their operating documents.

Beyond the drafting of the documents, our attorneys regularly counsel and advise our business clients on a wide range of governance and operational matters, including:

• Breach of fiduciary duties, fraud, and other illegal activities
• Alternative dispute resolution proceedings, including mediation and arbitration
• Compliance with state and federal statutes and regulations
• Mergers and acquisitions
• Business dissolution

Allen Carlson PLLC is committed to helping business owners prepare the corporate documents and contracts they need to successfully run their businesses. To learn more about how we can best assist your company we invite you to schedule a meeting with a member of our team by calling our Tacoma, WA offices at 253-212-2599.