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In this tutorial, Jim Hart, the founder of Hawthorn Law, discusses the importance of having an operating agreement for your LLC. He addresses common misconceptions and mistakes entrepreneurs make during LLC formation, highlighting that an operating agreement serves as a crucial contract between the business owner and their business. For single-member LLCs, the agreement outlines the framework for operations and ownership. Hart emphasizes the necessity of this document to legally protect and support the growth of your business. He encourages viewers to check out additional resources for more information on forming an LLC and avoiding common pitfalls.
