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NC State Extension

Business Organizations and Agreements

en Español

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This page discusses business organizations in the context of operating liability protection and transfer of interests.


LLC Operating Agreements: Key Components and Sample Language. This draft article provides sample clauses and suggested language for closely-held limited liability companies for use in managing legacy property.

Business Organizations: Partnerships, Corporations, and Limited Liability CompaniesThis short narrative explains the very basics of the forms of business organization available for business management, liability protection, and transfer of assets.

The Limited Liability Company (LLC): Steps in FormationThis narrative outlines the steps and decisions in forming a limited liability company in North Carolina.

Buy-Sell Agreements: Exercise of Options to PurchaseThis short narrative discusses the basics of contracts that obligate the disposition of assets upon certain events. The narrative includes sample language for how a buy-sell agreement might be structured.

Buy-Sell Agreements: Valuation of Company InterestThis short narrative describes how a buy-sell agreement might structure a valuation (and discount) to determine the price of an interest to be purchased. The valuation scheme is essentially a dispute resolution scheme should buyer and seller fail to compromise on a price. Sample language is included to illustrate operation of such a scheme.


Business Entities: Steps in LLC Formation This presentation delivered to NC Farm School covers the very basics of default operating status and business entities.

Sale and Purchase of Farm AssetsThis presentation covers the very basics of sale and valuation land and farm business assets, as well as the documents of transfer.

Business Entities and Farm Program Payment LimitationsThis short presentation covers the very basics of business structure and relationship to payment limitations for federal programs.


North Carolina Secretary of State (Entity Search)Use this site to search for filed business entities and their document filings. This is where one should search to see if the name chosen for a new entity is not already taken (i.e., chosen name is unique).


Content loaded to Agricultural and Natural Resource Law portal, including narratives, workbooks and presentations, is supported by The North Carolina Tobacco Trust Fund Commission (TTFC) (Grant award 2019-001-16).