If you started a business with a partner, have you stopped to consider what would happen to your company if that partner were no longer around? What if your partner died or was incapacitated? What if the partner simply wanted to sell to another party and move on? What would be left of the company you built? There are important questions you must answer, and the earlier you answer them, the safer your company will be. TransActionLaw can help you develop an appropriate buy-sell agreement that is fair to the separated and remaining partners. Drawing on more than 30 years of business law experience, I draft terms that protect you from a wide range of foreseeable circumstances so you can continue to prosper.
The time to forge a buy-sell agreement is as early as possible. Ideally, the agreement should be contained in your original partnership agreement. Unfortunately, many partners don’t want to blunt the optimism of their new venture by bringing up what is essentially a business prenuptial agreement. Instead, they miss the opportunity to negotiate when everyone is still on good terms, putting the issue off until relations are strained by the sudden or impending exit of a founder. If you haven’t tackled this task yet, please take care of it as soon as possible.
When you do create a buy-sell agreement, be sure to include:
As a business owner, you must understand that even productive partnerships rarely last forever. Protect your investment in your business enterprise with a precisely crafted buy-sell agreement by someone who understands business law.
To protect your business now and into the future, you should have a buy-sell agreement in place with all key partners. TransActionLaw provides the trustworthy advice and determined representation California business owners need to safeguard their interests. To schedule a consultation, call 949-668-1385 or contact me online.