Preparing partnership, operating, shareholder, or buy-sell agreements with business co-owners at the start of a business that deals with
- Respective contributions to the business and share of ownership in it.
- Who will provide funding for the business and how will those funds be provided?
- Decision-making prerogatives of individual owners.
- How the profits and losses of the business will be divided
- What happens if one of the owners dies, becomes disabled or incapacitated, gets divorced, or wants to leave the business?
- What happens when the business ends or is sold?
If you don’t have a written agreement, you may find yourself and the other co-owners involved in lengthy and costly disputes that could wind up destroying your business.