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I'm starting a business with 2 partners. I would like for…

Customer Question
I'm starting a business...

I'm starting a business with 2 partners. I would like for the three of us to be able to draft our LLC operating agreement with the assistance of an attorney.

Lawyer's Assistant: Can you tell me what state the LLC is registered in?

Utah

Lawyer's Assistant: Has anything been officially filed? If so, what?

No.

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

My biggest concerns are that I may be the only one investing capital. I, and one other partner have agreed to not draw a salary for our work initially since it's not income producing. I may be the only one with a capital contribution. Also, as the acting CEO, I want to make sure that I am not painted into a corner where voting rights are concerned. That's not to say that I want the final say, just that I want to make sure we have a way to resolve disagreements.

Submitted: 7 months ago.Category: Business Law
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Answered in 1 hour by:
12/3/2017
Business Lawyer: Legal Eagle, Lawyer replied 7 months ago
Legal Eagle
Legal Eagle, Lawyer
Category: Business Law
Satisfied Customers: 13,426
Experience: Licensed to practice before state and federal court
Verified

Hello! I am a licensed attorney, admitted to practice in state and federal court. I have a nearly 100% satisfaction rating (click here for more info) so all that means is that you can count on me to help today. Because I want to provide you with the most accurate answer possible, do you mind if I take a moment to review your question?

Please keep in mind that our conversation does not include an attorney-client relationship and this is for general information purposes only.

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Customer reply replied 7 months ago
Sounds good Legal Eagle, Thanks.
Business Lawyer: Legal Eagle, Lawyer replied 7 months ago

Great, thank you! Bear with me a moment while I review…

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Business Lawyer: Legal Eagle, Lawyer replied 7 months ago

Thank you very much for your patience. So, for a review of certain things like agreements and to provide general legal information, you'll have to accept a "premium service." This doesn't create an attorney-client relationship and the information is not confidential; however, I can at least review the terms of the agreement that are concerning you and give you and speak with you regarding the legal principles surrounding them. Please let me know if this is something you are interested in.

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Customer reply replied 7 months ago
that sounds good, depending on the cost and time allotment for the agreement.
Business Lawyer: Legal Eagle, Lawyer replied 7 months ago

Sure thing. Could you tell me approximately how many pages the agreement is?

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Customer reply replied 7 months ago
Everything is verbal, currently. I'm actually seeking assistance in drafting it.
Business Lawyer: Legal Eagle, Lawyer replied 7 months ago

I see what you mean. Unfortunately, I don't think I'd be able to help with drafting it; however, if you have some questions about what you have so far, whether what you have is legal, and anything else regarding it, I may be able to help with that for no additional charge. Did you have specific questions about it at all?

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Customer reply replied 7 months ago
Ok. It sounds like I may be better off sitting down with someone locally. Thank you.
Business Lawyer: Legal Eagle, Lawyer replied 7 months ago

I understand. One of the hardest things to do sometimes is find a lawyer that you can trust. Google searches are a good place to start, but usually the lawyers who pay the most can get bumped up to be on the first page regardless of their quality. One thing I recommend is going through your state’s lawyer referral service (LRS). The LRS in each state typically requires the attorney to have several years of practice, be free of discipline, and have adequate staffing to assist people. Here is the link for the Utah LRS click here. Did you have any other questions for me?

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Customer reply replied 7 months ago
No. Thank you for helping me!
Business Lawyer: Legal Eagle, Lawyer replied 7 months ago

You bet.

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