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Single Owner LLC Operating Agreement
"I need a Single Owner LLC Operating Agreement for my new technology consulting business being set up in Wales, with specific provisions for intellectual property protection and potential future expansion into software product development by March 2025."
1. Parties: Identifies the company and the single owner/member
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. Capital Contributions: Initial and ongoing capital requirements
6. Management Structure: Decision-making and operational control
7. Distributions: Rules for profit distribution
8. Transfer Restrictions: Rules regarding ownership transfer
1. Additional Capital Contributions: Terms for future capital requirements when anticipating future funding needs
2. Employee Provisions: Employment terms and policies when the company will have employees
3. Intellectual Property: IP ownership and protection provisions when the company will develop or use significant IP
1. Initial Capital Contributions Schedule: Detailed breakdown of initial investments
2. Articles of Association: Full articles of association for the company
3. Business Plan: Initial business strategy and projections
4. Asset Register: List of company assets at formation
Authors
Member
Board of Directors
Articles of Association
Business Day
Capital Contribution
Distributable Profits
Financial Year
Insolvency Event
Material Change
Ordinary Resolution
Special Resolution
Registered Office
Share Capital
Transfer
Voting Rights
Business Plan
Companies Act
Confidential Information
Director
Encumbrance
Management
Officers
Register of Members
Secretary
Statutory Books
Territory
Working Capital
Capital Contributions
Management and Control
Voting Rights
Distributions
Transfer Restrictions
Meetings
Books and Records
Tax Matters
Confidentiality
Intellectual Property
Non-Competition
Company Dissolution
Amendment Procedures
Governing Law
Dispute Resolution
Indemnification
Insurance
Banking and Financial Matters
Business Operations
Compliance
Employment Matters
Asset Management
Reporting Requirements
Term and Termination
Notices
Force Majeure
Severability
Entire Agreement
Waiver
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