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Why You Need An Operating Agreement - Ball Morse Lowe
Discover why a solid operating agreement is essential for any successful business partnership in this insightful session with Patrick Lane. Learn key insights on the importance of defining roles and responsibilities through an operating agreement, ensuring smooth operations, and preventing potential disputes. Don't miss the chance to safeguard your business's future as you consider bringing on new partners. Tune in to gain valuable advice you can't afford to overlook! Visit The Cash Flow Contractor for more podcasts.
Podcast Time Stamps
00:05 - Episode & Guest Intro
02:57 - The Importance of Operating Agreements
05:13 - When Do You Need an Operating Agreement?
08:33 - Key Provisions in Operating Agreements
11:05 - Navigating Partnership Dynamics and Legal Advice
13:02 - The Real Costs of Legal Disputes in Partnerships
14:38 - Management and Financial Considerations in Operating Agreements
22:33 - Addressing Distributions, Divorces, and Disputes
25:58 - Navigating Tax Provisions in Operating Agreements
26:45 - The Importance of CPA Involvement in Business Startups
27:37 - Exit Strategies and Expulsion Provisions
29:00 - The Essentials of Buy-Sell Agreements
31:45 - Funding and Valuation in Buy-Sell Agreements
36:47 - Ownership and Voting Rights in Business Partnerships
40:47 - Employee Ownership: Pros and Cons
43:08 - Non-Compete and Non-Solicitation Agreements
47:24 - Building a Strong Advisory Team for Your Business
52:46 - Final Thoughts and Advice on Operating Agreements
Ball Morse Lowe Business Law Attorneys - Oklahoma
At Ball Morse Lowe, PLLC, our experienced business law attorneys provide a full spectrum of legal services across Oklahoma, with offices in Edmond, Norman, Oklahoma City, and Stillwater. We cater to a diverse range of clients, including public corporations, family-owned businesses, entrepreneurial ventures, and individual investors. Our expertise encompasses all phases of a business's lifecycle, from inception and entity formation through to mergers, acquisitions, and the final sale.
We specialize in crafting and implementing robust operating agreements that are vital for successful business partnerships and operations. Our legal team assists with transactional matters, offering counsel on the formation, negotiation, and execution of deals, as well as on corporate restructuring and conversions. Whether you're starting a new venture or navigating complex mergers and divestitures, Ball Morse Lowe is equipped to ensure your legal needs are met with the highest standard of excellence. Call 405.701.5355 or email clientintake@bml.law