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Photography LLC Operating Agreement
"I need a Photography LLC Operating Agreement for a new studio venture with three professional photographers as equal partners, with specific provisions for equipment sharing and client portfolio rights, to be effective from March 2025."
1. 1. Parties: Identification and details of all members of the LLC
2. 2. Background: Context of the LLC formation and business purpose
3. 3. Definitions: Key terms used throughout the agreement
4. 4. Formation: Details of company formation and structure
5. 5. Capital Contributions: Initial and ongoing financial contributions
6. 6. Profit and Loss Distribution: Method of distributing profits and losses
7. 7. Management Structure: Roles and responsibilities of members
8. 8. Voting Rights: Decision-making processes and voting procedures
1. Employment Provisions: Required if the LLC will have employees. Includes employment terms, conditions, and staff management procedures
2. Intellectual Property Rights: Detailed provisions for image ownership, licensing, and usage rights for photographic works
3. Equipment Usage: Rules and procedures for company equipment use and maintenance, particularly for shared photography equipment
1. Schedule 1: Member Details: Detailed information about each member including contact details and ownership percentage
2. Schedule 2: Initial Capital Contributions: Itemized list of initial investments by each member
3. Schedule 3: Equipment Inventory: List of company-owned photography equipment
4. Appendix A: Standard Operating Procedures: Photography workflow and business processes
Authors
Articles of Association
Business Day
Capital Account
Capital Contribution
Client
Company
Company Property
Confidential Information
Copyright
Digital Assets
Effective Date
Equipment
Financial Year
Image Rights
Intellectual Property Rights
License
Managing Member
Member
Membership Interest
Net Income
Net Loss
Operating Expenses
Percentage Interest
Photographic Works
Photography Services
Portfolio
Professional Services
Profit Share
Register of Members
Registered Office
Share Capital
Studio
Territory
Third Party Rights
Transfer
Voting Rights
Capital Contributions
Profit and Loss Distribution
Management Rights
Voting Rights
Transfer Restrictions
Admission of New Members
Withdrawal and Retirement
Termination
Intellectual Property Rights
Equipment Usage
Client Relations
Confidentiality
Non-Competition
Non-Solicitation
Financial Records
Tax Matters
Dispute Resolution
Indemnification
Insurance
Force Majeure
Assignment
Amendments
Notices
Governing Law
Severability
Entire Agreement
Data Protection
Quality Standards
Portfolio Rights
Studio Access
Equipment Maintenance
Business Development
Marketing Rights
Death or Incapacity
Bankruptcy Provisions
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