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Welcome to the finish line!

You’ve either worked with an attorney to review your governing decisions to formalize them into a comprehensive document that aligns with state law, or you’ve decided to skip that step. It’s now time to sign your governance document and follow the terms you and your business partners have created.

Do this: All members sign the governance document (operating agreement, bylaws, or partnership agreement). Ensure each business partner has a signed copy to refer to as needed, storing in a safe yet accessible place. Then, follow the agreement!

If you go through the work of outlining how the business should handle important matters like decisions, taxes and the departure of a member, it’s very important to follow the document. This gives the business legitimacy in court. It also helps facilitate good relations with your partners. Whenever you have a doubt about what’s required for making a decision or how to deal with a specific governing scenario when it arises, refer to your governance document for guidance. If and when it comes time to amend your governing decisions in the future, use this workbook to guide your process again.

Now that you’ve put in the effort, make it work for you!

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