Single Owner LLC Operating Agreement Template for England and Wales

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Key Requirements PROMPT example:

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."

Document background
A Single Owner LLC Operating Agreement, adapted for use in England and Wales, is essential when establishing a private limited company with sole ownership. This document is required to define the company's internal management, establish capital contribution requirements, and outline operational procedures. While the US LLC structure doesn't directly exist in the UK, this agreement is modified to comply with UK company law while maintaining similar functional benefits. It's particularly useful for entrepreneurs seeking to establish clear boundaries between personal and business assets while maintaining full control of their business operations.
Suggested Sections

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

Optional Sections

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

Suggested Schedules

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

Alex Denne

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

Clauses
Relevant Industries
Relevant Teams
Relevant Roles
Industries

Companies Act 2006: The primary source of company law in England and Wales, governing the formation, operation, and dissolution of companies

Limited Liability Partnerships Act 2000: Legislation governing the formation and operation of Limited Liability Partnerships in the UK

Company Directors Disqualification Act 1986: Law governing the disqualification of directors and the consequences of acting as a director while disqualified

The Companies (Model Articles) Regulations 2008: Secondary legislation providing default articles of association for different types of companies

The Company, Limited Liability Partnership and Business Names Regulations 2014: Regulations controlling the use of sensitive words and expressions in company names

Corporate Governance Code: Guidelines primarily for public companies setting out principles of good corporate governance

Small Business, Enterprise and Employment Act 2015: Legislation aimed at making the UK a more attractive place to start, finance and grow a business

Corporation Tax Act 2009: Primary legislation governing the taxation of corporate entities in the UK

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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