29
My old LLC operating agreement got me in trouble with a new partner.
Used a free template from 2015 for my pressure washing business. Brought on a partner last year, 50/50 split. The template had zero rules for what happens if someone wants out. Partner left after 8 months, wanted his money back. Cost me $3,200 in legal fees to sort it out because the agreement was so vague. Anyone else get burned by an outdated operating agreement?
3 comments
Log in to join the discussion
Log In3 Comments
the_joseph13d ago
You used a free template from almost a decade ago for a legal document? That's just asking for trouble. How did you not see this coming when you brought someone else into the business? The partner situation is bad, but starting with a shaky foundation is the real problem here.
7
eva_thompson13d agoTop Commenter
So what's the actual fix for a partnership built on that mess?
3