Happy Post- Thanksgiving Break. I ate a lotta turkey down in College Station, Texas over the weekend. So I’ve been getting a lot of questions about partnership agreements lately. A partnership arises when two or more people agree to share in the profits and losses of a business. Oftentimes in business, especially in the food and agriculture industry, partnerships are …
Some Thoughts on Operating Agreements for Limited Liability Companies
If you have decided to form a Limited Liability Company (“LLC”) or Family Limited Liability Company (“FLLC”), you should strongly consider creating an Operating Agreement. In New York, the Operating Agreement must be executed within 90 days of forming your LLC. Farms and food entrepreneurs are discouraged from using an online form as the Operating Agreement should be tailored to …
Debrief from Skype Conversation About Being an Ag Lawyer
I had the opportunity to speak to a great crew via Skype last Friday about being an agriculture lawyer. It’s casual “open mic” style so we talked about whatever the participants wanted to talk about. I have been getting a lot of these types of inquiries lately from folks in many different stages of life/career. I want to note a …
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