How a Real Estate Business Hired a Lawyer to Draft an Operational Level Agreement in California

In 2023, a business in California posted a project seeking assistance with drafting an operational level agreement. The client aimed to establish a Wyoming LLC with five members and required a carefully crafted agreement that included specific provisions regarding equity distribution and member consent. Key elements included ensuring that one member retained a 10% sweat equity that could not be revoked by a majority, equal initial contributions from all members, and restrictions on the sale or substitution of memberships without unanimous consent. As a result, the client received nine proposals from licensed attorneys, with flat fee bids ranging from $495 to $2,000, all submitted to meet the client’s request for completion within a week.