Fort Lauderdale LLC Operating Agreement Lawyers
At Salas Law Firm, we are your trusted choice for all things involving limited liability company (LLC) operating agreements. From carefully drafting and reviewing agreements to providing practical solutions to disputes, we have you covered. Our attorneys possess more than three decades of experience combined. They utilize their unique business law know-how to get the results our clients need.
Find out why thousands have turned to Salas Law Firm for comprehensive guidance and aggressive advocacy in all kinds of business, employment, real estate, and insurance law disputes. We offer in-person and virtual consultations, making it convenient to start with us no matter where you are in Broward County or the nearby areas.
Enlist the help of our Fort Lauderdale operating agreement lawyers by calling (954) 420-6406 or reaching out to us online today.
What Is an LLC Operating Agreement?
An LLC operating agreement is a document that outlines the ownership, management, and operating procedures of an LLC. Florida law does not require an LLC to have an operating agreement, but creating one is highly recommended. These documents safeguard the interests of members involved in an LLC and can provide clear instructions for distributing profits, making decisions, and resolving disputes.
What Should an Operating Agreement Include?
While every LLC operating agreement will differ, there are key elements that ought to be included in most agreements:
- Members' ownership percentages and responsibilities
- Profit distribution methods and percentages
- Decision-making processes
- Rights and duties of members and managers
- Rules for admitting or removing members
- Procedures for resolving disputes, such as mediation or arbitration
Why Hire an Attorney to Create an Operating Agreement?
You can draft an LLC operating agreement on your own or use an online template. However, either of these options may not yield an agreement that is ironclad or supportive of your business's success. By turning to an attorney like ours at Salas Law Firm, you can get the high-quality, detailed agreement you need. Our team will work closely with you and your partners to develop an agreement that caters to your unique LLC and the challenges it and your partners could face in the future. With our help, you can feel more confident as you work to make your business venture successful.
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Remedies for LLC Operating Agreement Breaches
If a member breaches an LLC operating agreement, you can pursue numerous remedies, such as:
- Injunctive relief: This is a court order requiring a member to stop engaging in certain actions
- Monetary damages: These are financial remedies intended to compensate members for losses they incurred because of a breach
- Equitable remedies: These are non-monetary remedies, such as specific performance, which require a breaching party to fulfill their obligations under the agreement
While some remedies require litigation, you may be able to settle a dispute via more cost-effective means, such as arbitration or mediation. Our Fort Lauderdale LLC operating agreement attorneys frequently aim to resolve agreement disputes outside of court, which can limit costs and business disruptions. However, our team is fully capable of litigating cases to secure a proper remedy.
Partner with Salas Law Firm
Are you forming an LLC and need to institute a comprehensive operating agreement? Do you feel concerned about a business partner's actions and want advice on addressing the issue? In either of these cases and similar others, turn to Salas Law Firm. We welcome the opportunity to share our insights, offer advice, and fight to protect your interests.
Find out how we can help you by calling (954) 420-6406 or connecting with us online. Our firm proudly serves Fort Lauderdale, Plantation, and other parts of Broward County, as well as Naples and the surrounding areas.