A lot of entrepreneurs have multiple ideas for starting different types of businesses. There are several ways these separate businesses can be structured. It is very important to form these businesses correctly from the start to maximize liability protection. One way to structure your multiple business ventures is to form a single business entity and register a fictitious name (also called “Doing Business As” name, or DBA) for each individual business. This structure can be thought of as owning one big house, and inside the house you have many different rooms, each with their own name: the kitchen, the dining room, the living room, etc. Imagine that you want to start a restaurant and you f
Who should have an Operating Agreement? All LLCs, even single member LLCs, should have an operating agreement. An operating agreement is a document which describes the operations of the LLC and sets forth the agreement between the members (owners) of the business. An operating agreement helps separate the business from the owner(s). Keeping this separateness protects the owner(s) personal assets. What is an Operating Agreement? Operating Agreements establish the structure of your company, help protect your limited liability status, and create the governing rules of your business. An operating agreement lays out the relations among the members and between the members and the LLC. It also spec
