Knowledge Base
Operating Agreement
What it is
A document that defines ownership percentages, roles, and decision-making rules for an LLC.
Real-world Analogy
“Like team rules — who owns what, who makes decisions, what happens if someone leaves. Even solo LLCs need one.”
Why Marcus Uses This
Florida doesn't legally require one, but banks, investors, and courts expect it. Without one, state default rules apply — which may not be what you want.