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A partner and I have contracted a chemist to design a formula for us and we are just about at the testing stage. We have just gotten the paperwork back that our llc has been filed, and our related side business activity is now starting to show signs of traction and it is time for us to get an operating agreement together that we can both live with.
Of those who have experience with these types of contracts, are there any pointers or things I should be made aware of and not overlook?
Obviously, I know the majority of you are not attorneys, so nothing mentioned here in this thread will be thought of as legal advice. I'm just interested in learning about the good and bad experiences discovered through operating agreements, that you believe would be important to pass on me and others who are stepping into this type of contract. thanks
Of those who have experience with these types of contracts, are there any pointers or things I should be made aware of and not overlook?
Obviously, I know the majority of you are not attorneys, so nothing mentioned here in this thread will be thought of as legal advice. I'm just interested in learning about the good and bad experiences discovered through operating agreements, that you believe would be important to pass on me and others who are stepping into this type of contract. thanks
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