though many states don’t require an operating agreement in order to properly form an llc, taking the time to draft one can help your business run smoothly and protect you and your business from costly financial and management disputes. operating agreements contain similar provisions to other kinds of partnership agreements (like bylaws for a corporation) but also contain organizational details and proscriptions specific to the llc form. for example, in delaware, operating agreements can include provisions detailing who has the power to make managerial decisions, as well as any procedural requirements for how these decisions must be made. if you have already formed your llc or are considering doing so, a lawyer can help by drafting an operating agreement that clearly delineates the rights and powers of members and managers and supplies clear rules for how your llc will operate and who will make critical business decisions.