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William Conklin’s Answers

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  • Question for a State of Florida corporate attorney on LLC corporations

    A friend of mine and I opened an LLC in our two names only and now we'd like to add two more people. Can we draw up some sort of 'partnership agreement' that says what % each one will get and how each one will be compensated and what each other r...

    William’s Answer

    • Selected as best answer

    That depends (great lawyer answer), what is your relationship with the two people? Are they going to invest money into the venture? These questions aside, a LLC needs an operating agreement to establish the rights and privelages of its members. If one already exists it need to be amended to reflect the addtional members, if not one needs to be drafted.
    This answer is informational only and should not be considered legal advice.

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