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An operating agreement is a key document used by LLCs because it outlines the business' financial and functional decisions including rules, regulations and provisions. The purpose of the document is to govern the internal operations of the business in a way that suits the specific needs of the business owners.
An operating agreement is ONLY required in the five (5) States of California, Delaware, Maine, Missouri, and New York. In all other States, an operating agreement is not required but is recommended to be written and signed by all members of the LLC.
How to Convince People to Invest In Your StartupDo the thing you say you're going to do.Start small trivially small and then build up.Make three people love you.Ask for advice, not money.Be authentic.Consider an equity crowdfunding campaign when the time is right.Leverage the 'social proof' from crowdfunding.
What to Include in an Investor AgreementThe names and addresses of the parties.The purpose of the investment.The date of the investment.The structure of the investment.The signatures of the parties.
Investor agreements generally cover any transaction that gives other people or businesses ownership interest in the company. This could be of interest now or into the future and could be in exchange for anything of value such as cash, labor, an asset, and more.