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Im Franklin Simpson an attorney in New York City who often represents startups the question I received was Im starting a new business with a partner is an LLC what do we need to include in our operating agreement well first of all you were right to think about a written agreement every business with more than one owner needs a written agreement governing the relationship between those two owners two or more owners for an LC the form will largely be determined by your States requirements by tax considerations but you and your partner should give serious consideration to several points Im going to highlight three of them uh three that I consider to be among the most important first your agreement will Define each owners role in the business this includes his or her contributions of Capital Property Services both at startup and on an ongoing basis this guides the other basic terms of the agreement as well and clarifies what each members expectations are of the others just remember t
