Who Needs a Buy-Sell Agreement?
All businesses that are owned by more than one shareholder, partner, member or owner of the business should have a buy-sell agreement that governs the transfer of ownership interests in the event of a triggering event.
A buy-sell agreement provides a predetermined path for the ownership of a business upon the occurrence of a triggering event. Without a buy-sell agreement (or shareholder agreement, partnership agreement or operating agreement that contains buy-sell provisions) in place, our Tampa business attorneys and Tampa contract lawyers understand that the owners of a business could ultimately be stuck with unwanted co-owners of their business, with no way of forcing the co-owner to sell, transfer or divest the ownership interests of the business and with no way of forcing the co-owner to buy their ownership interests either.
Stated differently, in most cases, a well drafted buy-sell agreement provides liquidity for the ownership interests of a small to medium businesses. Our Tampa business attorneys and Tampa contract lawyers indicate that a buy-sell agreement also provides a succession plan for the operation of a business upon the occurrence of a triggering event.
Our Tampa business attorneys and Tampa contract lawyers prepare buy-sell agreements (as well as shareholder agreements for corporations, partnership agreements for partnerships and operating agreements for LLCs) for all types and sizes of businesses throughout Tampa, Florida.
If you are in need of a Tampa business attorney, Tampa contract lawyer, Tampa lease lawyer or Tampa real estate attorney to review, negotiate or prepare your buy-sell agreement or contract, or to handle your business, real estate or commercial transaction, please feel free to contact us at any time.
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