Building Effective Partnership, Operating and Shareholder Agreements
Many legal issues can impact how likely your business is to succeed. Among these are how robust its governing documents are. Well-structured agreements can provide clarity, stability and other important benefits.
At Daudi & Kroll, P.C., we craft personalized partnership, operating and shareholder agreements for business owners in Michigan. Our Okemos and Canton lawyers have a deep commitment to providing dependable legal support and high-quality service. Our team is here to match you with solutions that meet your company’s needs.
Common Governing Documents
What governing documents/agreements you could have for your business depends on its entity type. Common ones include:
- Partnership agreements for partnerships
- Articles of organization and operating agreements for limited liability companies (LLCs)
- Articles of incorporation, bylaws and shareholder agreements for corporations
Such documents can play a crucial role in defining the structure and operation of businesses.
Are Governing Documents Required?
Here in Michigan, LLCs must have articles of organization. Also, corporations must have articles of incorporation and bylaws.
However, partnership, operating and shareholder agreements are not mandatory under state law. While these documents are optional, they offer significant advantages. They can:
- Clarify the rights and responsibilities of owners
- Promote harmony within a company
- Eliminate confusion
- Defuse potential points of conflict
It is critical to keep these benefits in mind when deciding whether to form such agreements for your company.
Providing experienced Agreement Formation Guidance
Getting the specifics right can be key to realizing the full benefits of these documents. Our firm is ready to provide you with the drafting and negotiation solutions you need. We are committed to helping you establish governing agreements that are customized to your company’s circumstances, best interests and goals.
Here for You and Your Business – Contact Us Today
Get blueprints in place for business success. Let us help you address your company’s unique governing agreement needs.
You can get in touch with us through our contact form. You can also call us at 517-306-4538 or 734-249-6310 to reach an experienced legal professional at our firm.