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[Music] hi this is barry heimo thanks for tuning in to another dose of bite-sized bits of knowledge where we give you meaningful information in a short amount of time by now weve now covered formation of business entities and mechanics of how they work so the next step is to jump into the governing documents of each of these types of entities for that id recommend that we revisit the names of them so we can be on the same page so for corporations whether its c or s doesnt matter you have shareholders you have bylaws for a general partnership you have a general partnership agreement for llcs you have an operating agreement for limited partnerships you have a limited partnership agreement so just call them governing documents theyre very similar theyre going to include all the same provisions in spirit [Music] but theres also going to be some differences because some of them are different tax consequences they have to have a lot of different implications and well talk about that