For members of the Oakbrook Terrace Muslim community who are thinking about launching new business enterprise, it can be complicated to figure out how to draft an owner’s agreement. Different business structures have different forms of owner’s agreements.
The U.S. Small Business Administration helps to explain the distinctions among different kinds of business structures and the ways in which owner’s agreements can differ. Depending upon the type of business structure you have selected, your owner’s agreement will be entitled differently, but it should generally contain similar information. For instance, if you are forming a corporation, then you will need to create a shareholder agreement. If you are launching an LLC, however, you will need to create an operating agreement.
The information that you ultimately include in the owner’s agreement will provide guidance for handling a wide variety of issues that might arise at a later point in the life of the business. You should always discuss your situation with an experienced Oakbrook Terrace business lawyer before making decisions about a new business. An advocate at Farooqi & Husain Law Office can speak with you today.
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