An Ohio multi-member LLC operating agreement is a legal document that outlines the ownership structure and standard operating procedures of a limited liability corporation owned by more than one (1) member. The agreement sets clear expectations around membership, accounting, finances, legal issues, and dissolution. Documenting agreed-on principles, policies, and procedures at the beginning of a corporation’s life can reduce the risk of disputes that might arise between members and can further protect each member’s personal assets from any liabilities the company incurs. Every signatory should keep a copy of the agreement on file.