A buy-sell agreement is a binding contract that governs the transfer of an owner’s business interest upon specified events, ensuring continuity and equitable valuation.
“Misplaced” is often a substitute in business owner lexicon for “I have not reviewed my Buy-Sell Agreement since it was written”. Where is it? Is it buried in your Operating Agreement for your LLC, or is it in a file in a drawer not opened in years?
A Buy-Sell Agreement documents the terms and conditions for a sale of business interests under given triggering events.
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