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Operating Agreement For Single Member LLC Template for England and Wales

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Key Requirements PROMPT example:

Free Operating Agreement For Single Member LLC

I need a Free Operating Agreement For Single Member LLC for my new consulting business launching in March 2025, with specific provisions for intellectual property protection and the ability to add potential partners in the future.

Document background
The Free Operating Agreement For Single Member LLC is designed to establish the operational framework for a solely-owned business entity. While traditionally an LLC document in the US, in England and Wales this would be adapted to suit a Private Limited Company structure. It's essential for establishing clear boundaries between personal and business assets, defining management procedures, and setting out operational guidelines. This document is particularly important for sole proprietors looking to formalize their business structure and protect their personal assets.
Suggested Sections

1. Parties: Identifies the company member and any other relevant parties

2. Background: Context and purpose of the operating agreement

3. Definitions: Key terms used throughout the agreement

4. Company Formation: Details of company structure and registration

5. Management and Control: Decision-making processes and management structure

6. Capital Contributions: Details of initial and subsequent capital contributions

7. Distributions: Rules for profit distribution and drawings

8. Transfer of Interests: Procedures for transferring ownership interests

9. DisºìÐÓÖ±²¥: Procedures for winding up the company

Optional Sections

1. Additional Members: Procedures for admitting new members (if future expansion is contemplated)

2. Succession Planning: Provisions for business continuation after death/incapacity

3. Intellectual Property: IP ownership and protection if relevant to the business

4. Employee Management: If the company plans to have employees

Suggested Schedules

1. Initial Capital Contributions: Detailed breakdown of initial investments

2. Company Assets: List of company assets at formation

3. Business Plan: Initial business plan and projections

4. Registered Office Details: Official company address and contact information

Authors

Alex Denne

Head of Growth (Open Source Law) @ ºìÐÓÖ±²¥ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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Industries

Companies Act 2006: Primary legislation governing UK company formation and operation, covering directors' duties, company formation, corporate governance, shareholder rights and company administration requirements

Limited Liability Partnerships Act 2000: While primarily focused on LLPs, contains relevant principles that may be applicable to private limited companies

The Companies (Model Articles) Regulations 2008: Provides the default articles of association framework for private companies in the UK

Small Business, Enterprise and Employment Act 2015: Contains specific provisions affecting private companies, including requirements about transparency and filing

Corporate Insolvency and Governance Act 2020: Recent legislation affecting company operations and insolvency procedures

Company Formation and Structure: Key area covering the establishment and structural organization of the company

Director's Powers and Responsibilities: Key area defining the scope of director authority and duties

Decision-making Processes: Key area outlining procedures for company decision-making and governance

Share Capital and Rights: Key area covering share structure, shareholder rights and capital management

Company Administration: Key area dealing with day-to-day management and administrative procedures

Financial Management: Key area covering financial procedures, reporting and controls

DisºìÐÓÖ±²¥ Procedures: Key area outlining processes for company disºìÐÓÖ±²¥ or winding up

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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