Legal: Operating Agreement

In this 3-part series on venture fund formation and legal strategies, we will share an overview of the legal documents required for fund formation and discuss which elements are standard or open for negotiation and customization with answers from the knowledgeable minds at Wilson Sonsini Goodrich & Rosati. In this third segment, we will 1) highlight which sections of the Operating Agreements are often negotiated, 2) outline the key terms covered in the Operating Agreements, and 3) share sample Operating Agreement documentation for reference…