Examlex
Team roles are typically negotiated among team members
Partnership
A legal form of business operation between two or more individuals who share management and profits. The partners are personally liable for the debts and obligations of the business.
Liability
A legal responsibility for one's actions or the obligation to make restitution for harm caused to others.
Operating Agreements
Legal documents outlining the governance and operational guidelines of an LLC, including details about management, profit sharing, and member responsibilities.
LLC
A Limited Liability Company, a hybrid business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation.
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