How to Operate Your Business (11-18-2008)

It's important to set in place rules and guidelines that you and your fellow owners and employees will follow in carrying out the daily operations of your business.

Bankers, vendors and IRS agents may ask for copies of your Bylaws or Operating Agreements. These rules provide an air of legitamacy, even if you are the sole shareholder or director and should be updated yearly.

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Bylaws for Corporations

Second in importance only to the Articles of Incorporation this crucial document sets out rules for running the company. It addresses the larger management and administrative procedures. It also supports state laws and statues making sure your company operations remain in compliance with these laws.

MyCorporation has drafted a set of "fill in the blanks" digital bylaws for each state that make keeping the bylaws and supporting documents simple and easy.
Our Corporate Bylaws Package includes everything you need including numerous supporting documents.

Operating Agreements for LLCs

The LLC equivalent of the corporate bylaws is the Operating Agreement. This includes provisions for how members are added, whether they can be added, how day-to-day operations might function, and anything else that is helpful with the administrative running of the LLC. As with corporate bylaws, an operating agreement sets the rules for how the LLC will function on a long-term basis.

Although MyCorporation cant provide you with legal advice, our staff attorneys have drafted an affordable "fill in the blanks" template in digital format that make drafting your operating agreement easy.