Document background
A 50/50 LLC Operating Agreement is essential when two parties wish to establish an equal partnership business structure. While the LLC format is more common in the US, this agreement adapts the principles for use under England and Wales law, typically as an LLP or Ltd. The document outlines crucial aspects including initial investments, profit distribution, management rights, decision-making processes, and deadlock resolution mechanisms. It's particularly important for protecting both parties' interests in equal ownership situations and providing clear governance structures.
