The checklist is a sequential listing of the items found in Operating Agreements that must be used for LLC's. It is also used for Partnership Agreements. The checklist is very close to the sequence order of the items documented in your legal forms. The items cover your company name, where located, who are the members (partners), the amount invested in capital, how profits are distributed and when, the management responsibility of each member, how decisions will be made, methods of liquidating a retiring or deceased member. A detailed discussion between the members of the LLC or the members of the Partnership prior to seeking an attorney will greatly save on attorney fees and make the process a lot quicker with fewer revisions. The Operating Agreement and Partnership Agreement should always be part of the obligations of starting a business.