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The operating agreement I skipped came back to bite me hard
I incorporated my LLC in Oregon back in 2019. I used one of those cheap online filing services and checked all the boxes quick. I figured the operating agreement was just optional paperwork nobody actually reads. Fast forward to last spring when my partner decided to walk away from our business. We had nothing in writing about what happens when someone leaves. No buyout terms, no ownership split, nothing. The state default rules kicked in and we ended up having to dissolve the whole LLC and start over. Cost me about $400 in refiling fees and a lot of headache. Has anyone else learned this lesson the hard way?
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adam4142mo ago
Saw a thread on Reddit last month where somebody went through the exact same thing. They said skipping the operating agreement is basically playing roulette with your business. My buddy runs a small shop and he had his lawyer draft one for like $300, cheap insurance compared to what you went through.
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val9742mo ago
People skip reading the fine print all the time and it always bites them later. Same thing happens with car warranties and phone contracts - nobody bothers until something goes wrong.
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