The ownership portion of an operating agreement outlines how the LLC’s profits, losses, and assets are divided among its members. More often than not, this is contingent on the LLC structure.

While entity distinctness is a bedrock principle of corporate law, it may often appear redundant and unnecessary for a limited liability ...

A business organization that allows limited ... and liability and acts as a conduit to pass current operating profits or losses on to them. Most jurisdictions require limited partnership ...