Whenever two or more are involved in a business together, it is a great idea to have an agreement designed to resolve any disputes between the parties before any such dispute arises. Such an agreement is generally referred to as a Buy/Sell Agreement. Such agreements are best done up front.
1
Meet with Your Lawyer
Agree upon terms, such as value, terms of payment and events which shall trigger the buyout.
2
Execute the Agreement
Get together with the attorney for a last review of terms and get the agreement signed.
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