LLC Operating Agreement
An LLC operating agreement is a contract among the members of a limited liability company that establishes ownership percentages, management structure, and how profits, losses, and decisions are handled. Use this when you're forming an LLC with one or more co-founders and need a signed record of who owns what, how decisions get made, and how profits and losses are split.
What's included
A ready-to-use llc operating agreement with signature fields already placed for Member A and Member B. Fill in the bracketed details (like [Company Name] or [Date]) using Docracy's built-in text editor, then send it out for signature.
This is a general template for informational purposes only and does not constitute legal advice. Consult a qualified attorney to review it for your specific situation and jurisdiction before use.
Key clauses
- Member ownership percentages
- Capital contributions
- Management structure (member-managed or manager-managed)
- Profit and loss allocation
- Voting rights and decision-making process
- Transfer of membership interests and dissolution terms
What you'll fill in
[LLC Name][Member Names][Ownership Percentages][Initial Capital Contributions][Management Structure][Profit/Loss Allocation Method][Voting Threshold for Major Decisions][Effective Date]Legal summary
Signing an LLC operating agreement establishes each member's ownership stake, their share of profits and losses, and how the company will be managed and major decisions made. It governs the internal relationship among members, including what happens if a member wants to leave or the LLC is dissolved.
Free for up to 2 signers, no account required. Need unlimited? Flat $10/month.
FAQ
Is this LLC Operating Agreement legally binding?
Signing through Docracy uses a simple electronic signature (SES), which is legally recognized for everyday business agreements under laws like the U.S. ESIGN Act and the EU's eIDAS regulation. This is a general template, not legal advice — for high-stakes or regulated agreements, have a qualified attorney review it for your situation.
Who needs to sign this LLC Operating Agreement?
This template includes signature fields for Member A and Member B — already placed, so you just fill in the details and send.
Can I edit this LLC Operating Agreement before sending it?
Yes — Docracy's editor lets you edit the text, add or remove signature fields, redact sections, and reorder pages before you send it.
Do I need an account to send this LLC Operating Agreement?
No — it's free for up to 2 signers with no account required. Create a free account only if you want to save it to a dashboard or reuse it later.
Try it with an AI assistant
Paste one of these into ChatGPT, Claude, or your assistant of choice:
“Generate a filled LLC Operating Agreement for two co-founders with a 60/40 ownership split.”
“Explain the difference between member-managed and manager-managed structures in this LLC Operating Agreement.”
“Adapt this LLC Operating Agreement to add a buyout clause for a departing member.”
Why teams start with Docracy
“Docracy is a great product that I have tested and am using. It is easy to use, has good tools, is always up to date, and implements new features. Highly recommended.”— DACH Advisory
Free for up to 2 signers, no account required. Need unlimited? Flat $10/month.