Business Law
Buy-Sell Agreements
Multiple owners of a business can protect themselves against the departure of a co-owner by entering into an agreement to acquire his or her interest in the business. The agreement determines both a method of funding and a method of transfer, whether redemption, cross-purchase, or hybrid.
Buying/Selling a Business
Thorough knowledge of both the financial condition of an existing business and the legal issues are crucial to a successful purchase. Buying assets, but not liabilities, status of sales tax and employee withholding accounts, transfer of real estate leases and liquor licenses are some of the many issues to be explored.