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if you have or plan on registering an LLC then Im sure you know that it should have an operating agreement which is basically a document that sets forth the rules of the business I dont really recommend drafting the operating agreement yourself but if youre going to then here are some Clauses that you should include in the document first you should obviously put the owners names and the percentage interests that they have in the LLC next you should list the rights responsibilities and compensation that each owner is going to receive third you should list how someone can join the LLC or how they can leave the LLC and what compensation theyll receive if they leave fourth youll want to include a provision stating what happens when you all want to shut down the LLC this will include how business assets and debts are going to be allocated amongst the members thanks and follow me for more
