Buy/Sell Agreements and Business Dissolution
Lardiere McNair LLC is a results oriented firm that can help you navigate the tricky waters of buy/sell agreements in the event a co-owner of a business decides to buy or sell their interest in the business. We can also help with business dissolutions and reorganizations. Just as the formation of a business is important, as is your decision to leave the business, or take on another owner’s interest. We can provide sophisticated advice about whether to buy/sell your business interest. The most common reasons for buy/sell agreements include:
- A decision by an owner to exit the business (for personal or business reasons);
- The retirement of one of the owners;
- The death of an owner; and
- Adding an additional owner to the business.
Forward Thinking Strategies
Many businesses only think about buy/sell agreements when it comes time for an owner to enter or exit the business. However, our experience tells us that it is important to have one in place far in advance of that situation. Tensions between owners can rise in complicated matters such as divorce, bankruptcy, retirement, and the sale of the business. It’s important to have a plan in place well before those events occur.
If your business has more than one owner or shareholder, our firm can strategically plan for the entrance or exit of owners. A buy-sell agreement minimizes problems because it provides for an agreed-upon orderly succession.