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Film Production LLC Operating Agreement Template for United States

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Key Requirements PROMPT example:

Film Production LLC Operating Agreement

"I need a Film Production LLC Operating Agreement for a three-member LLC based in California, where one member will be the managing member with primary creative control, and we need specific provisions for international distribution rights and SAG-AFTRA compliance for our upcoming documentary project starting January 2025."

Document background
The Film Production LLC Operating Agreement is essential when establishing a limited liability company for film production purposes in the United States. This document is crucial for defining the relationship between members, establishing management protocols, and addressing industry-specific concerns such as intellectual property rights and guild compliance. It provides protection for members while ensuring clear guidelines for operation, profit distribution, and decision-making processes. The agreement should comply with both federal and state-specific LLC regulations, while addressing the unique aspects of film production, including production budgets, distribution rights, and creative control.
Suggested Sections

1. Parties: Identifies all members of the LLC and their contact information

2. Background: States the purpose of forming the LLC and basic intent of the parties

3. Definitions: Defines key terms used throughout the agreement

4. Formation and Name: Details of LLC formation, name, and registered office

5. Capital Contributions: Specifies initial and additional capital contributions by members

6. Membership Interests: Details ownership percentages and voting rights

7. Management Structure: Defines management roles and decision-making processes

8. Distributions: Procedures for profit distribution and loss allocation

9. Transfer Restrictions: Rules regarding transfer of membership interests

10. Dissolution: Procedures for LLC dissolution and wind-up

Optional Sections

1. Tax Provisions: Detailed tax treatment and allocations - use when complex tax structures are involved

2. Intellectual Property Rights: Ownership and licensing of IP created during production - use when significant IP will be created

3. Guild Compliance: Provisions ensuring compliance with industry guilds - use when working with union talent

4. International Rights: Provisions for international distribution and rights - use when international distribution is planned

Suggested Schedules

1. Schedule A - Member Information: Detailed information about each member including contact details and capital contributions

2. Schedule B - Project Details: Specific information about the film project(s)

3. Schedule C - Budget: Initial production budget and financial projections

4. Schedule D - Distribution Rights: Details of distribution arrangements and territories

5. Appendix 1 - Management Procedures: Detailed procedures for management decisions

6. Appendix 2 - Accounting Procedures: Specific accounting methods and procedures

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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Industries

Securities Act of 1933: Federal law regulating the offering and sale of securities, crucial if the LLC seeks external investors for film production

Securities Exchange Act of 1934: Federal law governing securities trading and investor protection, relevant for LLC investment structure

Internal Revenue Code: Federal tax regulations specific to LLC taxation and profit distribution in film production context

Copyright Act of 1976: Federal law protecting intellectual property rights in creative works, essential for film production and distribution

Digital Millennium Copyright Act: Federal law addressing digital copyright issues and online content protection

State LLC Acts: State-specific laws governing LLC formation, operation, and dissolution requirements

Blue Sky Laws: State-specific securities regulations governing investment and fundraising activities

SAG-AFTRA Agreements: Screen Actors Guild-American Federation of Television and Radio Artists regulations governing actor employment and rights

DGA Regulations: Directors Guild of America rules governing director employment and creative rights

IATSE Rules: International Alliance of Theatrical Stage Employees regulations for crew members and technical staff

Fair Labor Standards Act: Federal law establishing wage, overtime, and employment standards

State Employment Laws: State-specific regulations governing employment relationships, wages, and working conditions

Independent Contractor Regulations: Federal and state laws governing classification and treatment of independent contractors in film production

Workers' Compensation Requirements: State-specific insurance requirements for protecting employees in case of work-related injuries

Trademark Laws: Federal and state regulations protecting brands, logos, and other distinctive marks used in film production

State Contract Laws: State-specific regulations governing contract formation, enforcement, and interpretation

Uniform Commercial Code: Standardized state laws governing commercial transactions and contracts

Privacy Laws: Federal and state regulations governing data protection and privacy rights in film production context

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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