Synopses & Reviews
Synopsis
Going into business with others means taking some risks.
Sooner or later, one or more of the owners will want to exit the business (and
it may be you). Unless you plan in advance, protracted arguments over the
buyout price, payment plans, and outside buyers can threaten the survival of
your business. Without an agreement, co-owners may also jeopardize the business
by filing for bankruptcy, pledging their business share as collateral, or
losing their share of the business in a divorce.
And what happens when you are ready to move on? Can you force
the other owners to buy your interest? Who decides the price?
Business Buyout Agreements walks you
through the creation of a buy-sell agreement--a sort of "premarital
agreement" for your business--that protects everyone's interests. The
book includes a fill-in buy-sell agreement that can be tailored for owners of
corporations, LLCs, and partnerships.
Synopsis
Head off disagreements with co-owners
It happens to any business that's owned by more than one person: Sooner or later, one or more owners will want or need to leave the business. What happens when you're ready to move on? Or what happens to your company if one co-owner wants to retire, files for bankruptcy, or goes through a divorce? Unless you plan in advance, it could threaten the survival of your business.
In short, it's essential that you create a simple but effective "prenuptial agreement" for your company with a buyout agreement (buy-sell agreement). This document clarifies:
when you or your co-owners can sell ownership interests
the circumstances requiring an owner to sell (personal bankruptcy, for example)
how much departing owners can ask for their shares, and
how long continuing owners have to pay the former owner.
Business Buyout Agreements walks you through the creation of your own legal agreement--before issues come up and cause problems. It provides all the tax and legal information you need at every step, such as how to structure the agreement to avoid estate taxes. You'll have a clear, fair agreement--and peace of mind.
With Downloadable Forms Everything you need to create a buy-sell agreement is provided, details inside.