Here’s a web site that may just offer the help you are looking for — myllcagreement.com — a free online legal self-help site dedicated to providing customized limited liability company (LLC) operating agreements.
The site just launched last week so you may be the first to have a chance to check it out. When I first heard about this site a few weeks ago, I was skeptical. You know — that old something for nothing feeling and “if it sounds too good to be true, it probably is.” So I did some additional checking and it appears to check out OK. If you choose to do business with them, make sure you do your own due diligence.
So what do they offer exactly? A “law firm quality” LLC agreement without the need of pricey lawyers according to the info I’ve received. MyLLCagreement.com will develop operating agreements that are compatible with any business type regardless of size, industry, or location they say.
“In today’s volatile economy, we want to encourage people to take control and start their own business,” says CEO and Founder Adam Bergman. “Over 90% of all new companies are formed as LLCs and they should all have an operating agreement to govern their business arrangement. With myLLCagreement.com, entrepreneurs and business owners will have access to free LLC agreements without the need for costly lawyers.”
Unlike its competitors, myLLCagreement.com is the first site to offer this service absolutely free of charge. It appears this free service is supported by giving customers the option to either purchase useful online or telephone support from specially trained LLC professionals and/or amend the agreement at anytime.
Update 3/23/09: I heard from two users of this service today. Here are their comments.
- I just read your blog on allbusiness.com and actually checked out www.myllcagreement.com. My best friend and I just formed a company and actually was about to get an agreement drawn up. You were right! We ended up getting our agreement thru them. For us we didnt understand all of the questions, so actually paid for the on-line help. But $9.99 for a 45 page agreement, who can beat that. Thanks for the great idea to go on that website. Staci Freeman
- My friend passed along your blog to me because she thought i might be interested since I recently started my own company. I checked out that website and was extremely impressed. I figured I had nothing to lose considering it was free. Eventhough, I was a little skeptical, I was shocked that there really weren’t any strings attached and now I actually have a great detailed LLC agreement. Natalie (No last name sent)
There you go. If you’ve used this service, I’d like to hear from you. Please send me an email to doberry [at] gmail.com or use the email link about or feel free to leave a comment. Thank you.