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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?
passes away?
To make sure there's a smooth transition following someone's departure, it's essential that you create a sort of "premarital agreement" for your business with a "business buyout agreement" (or "buy-sell agreement"). This legal document clarifies when co-owners can sell their interest, the circumstances when someone must sell, who can buy into the business and what price will be paid.
Business Buyout Agreements walks you through creating your own contract, which is included on CD-ROM and as a tear-out. It provides all the tax and legal information you need at every step.
Forms from the CD-Rom are available under Appendixes B&C
*The CD-ROM is not included with the digital version of this book.
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:
To make sure there's a smooth transition following someone's departure, it's essential that you create a sort of "premarital agreement" for your business with a "business buyout agreement" (or "buy-sell agreement"). This legal document clarifies when co-owners can sell their interest, the circumstances when someone must sell, who can buy into the business and what price will be paid.
Business Buyout Agreements walks you through creating your own contract, which is included on CD-ROM and as a tear-out. It provides all the tax and legal information you need at every step.
Forms from the CD-Rom are available under Appendixes B&C
*The CD-ROM is not included with the digital version of this book.
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