Posts tagged: governance
The Difference Between Manager-Managed and Member-Managed (And Why It Matters When You're Selling)
Most LLCs are formed as member-managed by default without the founders understanding what that means for third-party dealings. What each structure does and when it matters.
The Operating Agreement Clause Nobody Writes Until They Need It
What happens when two equal partners cannot agree and the agreement has no mechanism for breaking the tie. The time to decide is at formation, not during the impasse.
The Articles of Organization vs. The Operating Agreement
These are not the same document. Most new LLC owners treat them as if they are. What each one governs, what the operating agreement needs to contain, and what happens when it's silent.
The First Time You Have to Let Someone Go
Ending an employment relationship is something most new enterprise operators have not done before. The mechanics are specific and the legal exposure is real. What the process actually involves.