Posted on April 25, 2022 in Uncategorized

Starting or joining a business venture is an exciting endeavor. With the hustle and bustle of starting a business, owners may not put together a formal operating agreement. It may not seem necessary at the time, or it may seem too time-consuming or costly

But if a conflict arises, how is the business dispute handled if there is no operating agreement? Broadly speaking, the default terms of Wisconsin’s limited liability company act (LLC Act) governs anything not covered in an operating agreement. Below, we’ll talk about common business disputes, the default rules, and the purpose of an operating agreement.  

If you’re involved in a business dispute with no operating agreement in place, reach out to one of our experienced business litigation attorneys to understand your options and rights

What Are the Most Common Business Disputes for an LLC?

The beauty of a Wisconsin LLC is the flexibility it provides. More or less, an operating agreement allows owners to tailor an operating structure that works best for their business needs. Unfortunately, that flexibility can be a benefit and a burden. And even with an agreement in place, disputes might still arise.

Continue Reading ››