Shelby Fishman is an assistant editor for MarketWatch Picks. Previously, she served as an assistant editor for custom content at Barron’s Group. Shelby studied broadcast journalism at Southern ...

An operating agreement is a foundational legal document used by limited liability companies (LLC) to outline the rules and regulations by which the company and its owner(s) will operate or function.

Florida doesn’t require limited liability companies (LLCs) formed in the state to have an operating agreement, but if you’re forming your LLC in the Sunshine State, it’s still a good idea to have one ...

An LLC operating agreement is a legally binding document that outlines the LLC’s preferred operating, management and financial procedures. Its purpose is to guide the business’s internal operations ...