Limited Liability Operating Agreement Template for Australia

1. Tag-Along Rights: Optional provisions giving minority members the right to join in sale transactions - relevant for companies with significant minority interests

2. Drag-Along Rights: Provisions allowing majority members to force minority members to join in sale transactions - useful for larger companies

3. Pre-emptive Rights: Right of first refusal on new issues or transfers of interests - important for closely-held companies

4. Put and Call Options: Specific buy-sell arrangements between members - useful for companies with sophisticated investors

5. Intellectual Property Rights: Specific provisions for IP ownership and licensing - essential for technology or creative companies

6. Non-Compete Provisions: Restrictions on competitive activities - important for companies where members have industry expertise

7. Additional Capital Arrangements: Detailed provisions for future funding rounds - relevant for growth-focused companies

8. Foreign Ownership Provisions: Special provisions for foreign members - necessary when foreign investment is involved

1. Schedule 1: Member Details: Complete details of all members including contact information and initial capital contributions

2. Schedule 2: Initial Capital Contributions: Detailed breakdown of each member's initial contribution, including valuation of non-cash contributions

3. Schedule 3: Company Assets: List of company assets at formation, including any intellectual property

4. Schedule 4: Management Structure: Detailed organizational chart and management responsibilities

5. Schedule 5: Business Plan: Initial business plan and strategic objectives

6. Appendix A: Consent Resolutions: Template forms for written member resolutions

7. Appendix B: Transfer Notice: Standard form for notifying transfer of membership interests

8. Appendix C: Proxy Form: Template for appointing proxies for member meetings