Business Buyout Agreements: A Step-by-Step Guide for Co-Owners (Business Buyout Agreements) (Paperback)
by Anthony Mancuso, Bethany K. Laurence
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.
About the Author
Attorney Anthony Mancuso is a corporations expert and author of Nolo’;s bestselling corporate law series. He is the author of How to Form Your Own Corporation for California, New York, Florida and Texas; How to Form a Nonprofit Corporation (National and California Editions); The Corporate Minutes Book; California Incorporator (software) and co-author of Nolo’s Partnership Maker (software) and How to Create a Buy-Sell Agreement and Control the Destiny of Your Small Business. His books and software have shown over a quarter of a million businesses and organizations how to incorporate.
Bethany Laurence, a lawyer and Nolo editor, received her undergraduate degree from Boston University in 1990 (Phi Beta Kappa, Magna Cum Laude) and her law degree from University of California, Hastings, in 1993. Beth is the co-author of How to Create a Buy-Sell Agreement and Control the Destiny of Your Small Business and the editor of many of Nolo’s small business books, including Your Limited Liability Company, The Small Business Start-Up Kit, Nolo’s California Quick Corp and How to Create a Noncompete Agreement.