Are you buying a business that will have one or more co-owners? Or do you already own one fitting that description? If so, consider creating a buy-sell agreement. A well-drafted agreement can do these valuable things: Transform your business ownership interest into a more liquid asset, Prevent unwanted ownership changes, and Avoid hassles with the
Most companies with more than one owner should have a buy-sell agreement in place. Here are some of the key considerations involved in developing this legal document. Buy-sell agreement benefits A well-designed buy-sell agreement provides many benefits, including: Keeping ownership of the business within the family or another select group, for example, people actively involved
For a buy-sell agreement to be effective, you need to review it periodically and, if necessary, modify its language to reflect changing circumstances.