Summary
Everything partners need to create a "business prenup" that will protect a business if someone leaves.
If you're like many entrepreneurs, being in business means working with one or more co-owners. But what will happen to your company if a co-owner:
- wants out of the business
- wants to retire
- goes through personal bankruptcy
- wants to sell his shares to someone else
- goes through a divorce
- or passes away?
Business Buyout Agreements walks you through the creation of a legal contract -- a sort of "premarital agreement" for your business -- that protects everyone's interests. This document will help ensure a smooth transition following someone's departure. Clarify:
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when co-owners can sell their interest
-
the circumstances when someone must sell
-
who can buy into the business
-
what price will be paid
Business Buyout Agreements is updated with the latest laws, and includes a complete business buyout agreement on CD-ROM.
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