ownership transition

Transferring Your Business to a Family Member: 5 Key Factors – Business Article

Factor #2: The Buy-Sell Agreement When transferring a business, don’t overlook the importance of the buy-sell agreement, which works to put everything in writing. You may be tempted to forgo a contract since you are dealing with a family member, but this is a mistake, no matter how close you might be with your loved ones. A buy-sell agreement adds clarity to the process, which can help to keep confusion levels low and the chance of success high. When the time…

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Key Elements for Every Partnership Agreement – Business Article

Your partnership agreement is one of the most important business documents you will ever sign. Many people go into business with loved ones, relatives, or lifelong friends only to discover (once it’s too late) that they should have had a partnership agreement. This agreement protects everyone involved and can help reduce problems that may arise. Outlining what will happen during different potential situations and events, in a legal framework, can help keep your business running smoothly. What Should a Partnership…

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