Business Formation Attorney in Minneapolis, Minnesota

Business Partners and Written Agreements

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Absolutely. It’s really important right when you start your company to set out what your expectations are. Sometimes I describe it to clients as when you get married, everything is wonderful. You have the future ahead of you. Sometimes might have happened along the way and you have to get divorced. Most likely at that point you’re not agreeing on certain terms, and that’s not the point where you want to figure out how to address certain circumstances. Similar to a company. You want that operating agreement to really set out the basics and what steps you’re going to take when certain milestones hit the company or if there are issues that arise so that when they do, you have something to look to and you’re not trying to come up with an answer at that point.

Minneapolis business and corporate organizations attorney, Molly Gherty, discusses the importance of having a written operating agreement to consult when milestones are reached and issues arise for a new company.

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