Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. An LLC operating agreement is a legal document that details ...

A corporation isn't required to have a full team of c-suite executives and large, formal shareholder meetings. It is possible to be the sole shareholder, director and officer for your corporation.

An LLC operating agreement is a legally binding document that outlines the LLC’s preferred operating, management and financial procedures. Its purpose is to guide the business’s internal operations ...