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Attorney Dan discusses LLC ownership and profit/loss allocations, focusing on scenarios with multiple owners. Typically, ownership is based on capital contributions, such that if one owner puts in $75,000 and another $25,000, their shares would be 75% and 25%, respectively. However, there are cases where parties may wish to deviate from this standard allocation. Even if one owner contributes more, profit and loss distributions can be adjusted according to mutual agreement among owners. This flexibility allows for customized arrangements that may not align with initial capital contributions, provided all parties consent in the operating agreement.