Join attorney John Cleary of Procopio Cory Hargreaves & Savitch as he discusses the best practices and pitfalls to avoid when drafting LLC operating agreements. The four main topics discussed include formation & capitalization, management & governance, profits, loses & distributions, and rights & restrictions on units. Mr. Cleary also discusses the difference between equity and passive investors, Certificates of Formation & Articles of Organization, price per unit & capital contributions, overriding default statutory provisions, allocations of profits & loses, distribution provisions, and transfer restrictions and unit rights
John Cleary specializes in corporate and securities law, with an emphasis in representing start-up and emerging growth companies obtaining financing for their businesses through seed capital, venture capital, PIPE financings and public offerings. Mr. Cleary also regularly assists clients in the acquisition and sale of businesses, advising both privately held and publicly traded companies in transactions involving the sale of assets, sale of stock, mergers, joint ventures, licensing, strategic alliances and other business combinations.