Every Business Needs A Buy -Sell (Buyout) Agreement & Strategy
If you own your own business, you know how rewarding it can be. Along with ownership comes the commitment and plan you must make to reach your dream. Your financial well-being depends on a strategy that will protect yourself and your company from liability and other risks almost all businesses will face at one time or another.
Our Denver business lawyers can develop a plan and a strategy to help your business reach its goals. We have the proficiency, knowledge and experience to help you obtain those objectives.
Every company should be prepared to face the possibility of a buy-sell situation sometime during the course of their lifetime. Contrary to the name, a buy-sell agreement has nothing to do with buying or selling a company. Buy-sell agreements are legally binding contracts to help protect your business if a partner or co-owner dies, becomes disabled, have financial problems or divorces. Our attorneys can help create a plan that will protect your interests and the interests of the business you worked so hard to build.
A buy-sell agreement is not an agreement where “one-size-fits” all. We, at Gantenbein Law Firm, take the time to personally understand your business to help construct a plan for your long-term success. If you haven’t thought of having a buy-sell business strategy, there are numerous unforeseen circumstances that every business should plan for.
Have you given thought what would happen if your business partner or co-owner died or became incapacitated? Think of the possibility having to work with that partner’s ex-spouse or other relative. What if a partner divorces and the soon-to-be ex-spouse wants half or part of your business? What if the partner files for bankruptcy? You could find your company half-owned by a bank or you may be forced to sell the business. What happens to the business if you and a partner have an irreparable argument?
Your business should have a succession plan in place that includes a buy-sell agreement if something should happen to you or a partner. The agreement can also specify what would happen to the business, what person(s) could buy-in or buy-out the company, how the company would be valued and what the payment terms would be.
Our attorneys can devise and formalize carefully crafted business contracts for buy-sell or cross-purchase agreements that would stop any disruption of your company or hurt its finances if you or a partner dies, become incapable to run the business, retire or any of the above scenarios occur.
Our business law attorneys help you protect your assets and help you avoid costly financial mistakes. We create and establish business exit strategies and develop ownership succession plans.
Careful planning and a solid buy-sell agreement can protect your business from financial risk and save you from costly litigation or utter chaos later.
Gantenbein Law Firm's business lawyers can expertly craft your business buyout and buy-sell agreement.
For a consult, call 303-618-2122.