Wisconsin Operating Agreement between NBC Internet, Inc. and Telocity, Inc.

• Category: Corporations - Public - Operating
• State: Multi-State
• Control #: US-EG-9126
• Format: Word; Rich Text

Description

Operating Agreement between NBC Internet, Inc. and Telocity, Inc. dated December 10, 1999. 58 pages

Title: Understanding the Wisconsin Operating Agreement between NBC Internet, Inc. and Velocity, Inc. Keywords: Wisconsin operating agreement, NBC Internet, Inc., Velocity, Inc., contractual agreement, business partnership, legal document, terms and conditions, governing laws, obligations, rights, obligations, multiple types Introduction: The Wisconsin Operating Agreement is a legally binding contract between NBC Internet, Inc. and Velocity, Inc., which outlines the terms and conditions governing their business partnership within the state of Wisconsin. This agreement establishes the rights, obligations, and responsibilities of both parties, ensuring a smooth and mutually beneficial collaboration. Types of Wisconsin Operating Agreements: 1. General Wisconsin Operating Agreement: The General Wisconsin Operating Agreement serves as the primary agreement between NBC Internet, Inc. and Velocity, Inc. It covers the overarching terms and conditions regarding the general operation and management of their business partnership. This agreement encompasses aspects such as profit distribution, decision-making processes, dispute resolutions, and rights and responsibilities of each party. 2. Financial Operations Wisconsin Operating Agreement: In addition to the general agreement, NBC Internet, Inc. and Velocity, Inc. may also have a Financial Operations Wisconsin Operating Agreement. This agreement specifically focuses on financial matters such as capital contributions, budgets, accounting procedures, profit and loss statements, tax obligations, and annual financial reporting. 3. Intellectual Property Wisconsin Operating Agreement: If NBC Internet, Inc. and Velocity, Inc. jointly develop intellectual property or have any specific arrangements regarding intellectual property rights, a separate Intellectual Property Wisconsin Operating Agreement may exist. This agreement outlines the ownership, usage, licensing, and protection of intellectual property assets generated during the course of their partnership. 4. Dissolution Wisconsin Operating Agreement: The Dissolution Wisconsin Operating Agreement provides the necessary guidelines and procedures for terminating the partnership between NBC Internet, Inc. and Velocity, Inc. It covers the distribution of assets, settlement of outstanding debts, notification procedures, and any other relevant details in the unfortunate event that the business partnership dissolves. Key Elements of a Wisconsin Operating Agreement: — Identification of the involved parties (NBC Internet, Inc. and Velocity, Inc.) — Purpose and objectives of the partnership — Roles and responsibilities of each party — Capital contributions and profit distribution methods — Decision-making processes, including voting rights and quorum requirements — Procedures for adding or removing members/partners — Management and governancstructureur— - Dispute resolution mechanisms — Confidentiality and non-compete clauses, if applicable — Indemnification and limitation of liability provisions — Governing laws and jurisdiction within Wisconsin Conclusion: The Wisconsin Operating Agreement between NBC Internet, Inc. and Velocity, Inc. is a critical legal document that establishes the foundation for their business partnership. It covers various aspects of their collaboration and ensures both parties are protected by clearly defining their rights, obligations, and procedures. Different types of agreements can be included, such as the General Operating Agreement, Financial Operations Agreement, Intellectual Property Agreement, and Dissolution Agreement. By adhering to the terms outlined in these agreements, both companies can establish a successful and harmonious working relationship in the state of Wisconsin.