A company agreement shows who owns and manages the LLC, how to manage profits, and how to resolve any issues LLC may encounter now or in the future. An LLC corporate agreement is not required in any state in the United States, although it is important. An LLC corporate agreement is a legally binding business document that includes the ownership of its members, how the business is managed, and the structure of LLC (Limited Liability Company). It can contain details such as meetings, appointing a registered agent, selecting managers, and adding/removing members. If the LLC is not very small, it is usually better to designate a person (a member or a manager) to run the business. You may want a separate compensation and reimbursement agreement for the external member or manager. .