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Warning: Our LLC operating agreement was a disaster after 3 years
Honestly, we filed our LLC with a generic template back in 2020 and thought we were fine. But when my partner quit last month, the agreement said nothing about buying out shares or dividing assets. We ended up paying a lawyer $2,500 just to sort out the mess. Has anyone else had a cheap operating agreement blow up?
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terryw6728d ago
My buddy Mike lost HALF his IT company when his cheap template said nothing about partner exits.
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young.kim28d ago
Man, it's like we think we can outsmart life with some perfect document but reality always has its own plans. It reminds me of how people spend hours planning a vacation down to every detail and then the best memories come from the random detour you took. Sometimes you just gotta accept that things will break and deal with it when it happens.
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faith_king28d ago
Counterpoint - having a loose agreement actually saved you from a bigger mess. Generic templates are great because they force you to figure things out when they happen, not try to predict every possible disaster years in advance. The $2500 lawyer fee is cheap compared to what you would have paid to draft a perfect agreement upfront that still wouldn't have covered your specific situation.
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