Business-Minded Legal Solutions

The contract universe: spotlight on operating agreements

We duly note on our website at the established business law firm of Stephenson Fournier in Houston that, “Contracts are the fundamental tools of business.”

That flat-out commercial reality is daily appreciated by our clients from Texas, throughout the United States and internationally. They know that tightly tailored and well-drafted agreements are the lifeblood of their companies.

A base point to note concerning virtually any company is that over time it is likely to enter into many, diverse contracts. We provide a representative list on our website of go-to agreements that are routinely central to business operations and success. Contracts address matters that span the commercial universe, including issues linked with employees, owners and shareholders, customers, suppliers, and third parties, as well as lending and borrowing, real estate and leased space, licensing, distribution, insurance, and scores of other considerations.

Today we spotlight one type of contract that should be a key focus of principals in limited liability companies. Namely, that is the operating agreement, known in Texas as the limited liability company agreement, which serves for LLCs as the guiding legal blueprint addressing capital structure and governance.

The LLC Company Agreement specifies the agreement among the members of the limited liability company regarding their rights and obligations to each other and to their company.  It is often tailored very specifically to the needs of the particular owners and the particular business.

When forming, recapitalizing or reorganizing a limited liability company business owners reasonably turn to seasoned commercial attorneys who command a deep well of experience in contract negotiation, drafting and enforcement to help with operating agreements and other relevant contracts.

We welcome inquiries to our firm from company owners and managers having questions or concerns regarding any contract.