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operating agreements that what you need to do if youre going into business with someone else that could be a partnership which we havent talked about but or it could be a limited liability company or it could be an S corporation lets stay with S corporation and a limited liability company both of those entities have established documents if you will that people use to document their relationship as I said before the limited liability companies are very flexible and a limited liability company has something called an operating grant agreement or a member control agreement its different in different states but basically what it says is this is how were going to run the company this is whos going to run it this is how were going to run it this is how were going to split up the money with respect to S corporations they have things called shareholder redemption agreements the structure of corporations are much more rigid so you cant change how its managed you cant change much abou
