Every limited liability company (LLC) should have an operating agreement. Whether you own a single-member LLC or you have several co-owners, your LLC’s operating agreement will describe details about the company’s ownership, management, and operations.
Our preferred option is using an operating agreement service. Many of the top LLC formation services also offer operating agreements. Harvard Business Services is a popular company for basic Delaware operating agreement templates due to its free pricing model and positive customer feedback. However, it only offers services for Delaware businesses.
Some companies (like Harvard Business Services) offer operating agreement templates that you can fill out yourself. Meanwhile, some competitors provide full-service LLC operating agreement services, presenting each customer with a complete, fully customized document, typically at a much higher price point.
If you still need to form your LLC as well, there are several reputable companies that bundle LLC formation and operating agreement services together into money-saving bundles. That said, Harvard Business Services only offers Delaware operating agreement templates. Is it the right company for you?
Harvard Business Services’ Delaware operating agreement template is a popular option for several reasons. Let’s start with a quick look at some pros and cons before we move into our more detailed analysis.
The state of Delaware has some specialized forms of LLCs that require a specific type of operating agreement. The Delaware-exclusive Harvard Business Services includes templates for these LLC operating agreements, including those for series LLCs and multi-member LLCs with three member classes.
While all of the templates offered by Harvard Business Services are specifically tailored to Delaware businesses, the more basic operating agreement templates (single- and multi-member) could be edited for use in other states.
Harvard Business Services was established in 1981 and has since formed more than 300,000 Delaware businesses. For the first 10 years, the founder and his wife ran the business out of their home before expanding their company to an actual office.
Harvard Business Services now serves Delaware businesses based in nearly a dozen countries. Their founding CEO is still leading the company and even has his email address listed on the website.
They have thousands of positive reviews online across a handful of sites and few negative reviews. While Harvard Business Services can’t quite compete with the 12,000+ positive reviews we have online, it does still receive solid average ratings.
Harvard Business Services offers phone, email, chat, and Skype support. We reached out via all except Skype and were impressed by their customer service and response times.
Our chat question was answered quickly. The representative offered to call and talk us through the process, but we declined, wanting to call in on our own. Similarly, our email was answered by midday the following day.
The direct extensions of their staff are listed on the website, but we just called the main number to make a selection. Our call was answered in less than two minutes, and we were greeted by a courteous agent who answered and expanded upon our questions.
However, Harvard Business Services has short hours of availability that could pose problems for some entrepreneurs. Harvard Business Services reps are only available from 9 a.m. to 5 p.m. ET Monday through Thursday and 9 a.m. to 4 p.m. ET on Fridays.
The entire point of using an operating agreement service is to make the process more convenient than it is to create your own, while also saving you money over hiring an attorney to create it. Thankfully, Harvard Business Services’ Delaware operating agreement template has an intuitive user interface that makes it simple to create the document you need.
The process for creating your LLC operating agreement with Harvard Business Services is simple. All you need to do is scroll down the Delaware LLC operating agreement page on the HBS website until you find the one that fits your circumstances.
You can choose from single-member, member-managed multi-member, manager-managed multi-member, multi-member with three member classes, and series LLC operating agreement templates. When you find the one that suits your needs, click the download link to save the Microsoft Word file to your computer. Then, you can open the file in Word (or a comparable word processing application) and fill in the pre-populated form.
There are more than 3,500 reviews of Harvard Business Services scattered across the web — you can find most of them on Trustpilot, but there are additional handfuls on BBB.org, Facebook, and Google.
The vast majority of this feedback is positive. Averaged across all four of these websites, we found that their average review score is right around 4.5 out of 5 stars.
As for the exact content of this feedback, we were able to identify a couple of common threads that we found echoing throughout many of the reviews. The most frequent theme is customers discussing how affordable Harvard Business Services’ price points are. In addition, there are plenty of customers mentioning the high-quality customer support and general ease of use provided by the Harvard Business Services platform.
Overall, Harvard Business Services is a popular option for Delaware LLC operating agreement templates. We appreciate this company’s free pricing model, and the customized templates for specialized Delaware LLC types can be helpful.
If you want to take a look at Harvard Business Services’ competitors for LLC operating agreement templates, or you want to check out combo packs with business formation service, our guide to the best LLC operating agreement services has the information you seek.
Disclaimer: The content on this page is for information purposes only and does not constitute legal, tax, or accounting advice. If you have specific questions about any of these topics, seek the counsel of a licensed professional.
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