Yes, breaking up is hard to do. But planning ahead can ease the pain. If you're in business with others, chances are the current co-ownership won't last forever. Lots of things can happen. You or a co-owner may:Decide to move out of state to pursue a new line of work
Become physically or mentally disabled – or even die
Seek to buy out a co-owner's interest in the business, or
Want to sell to an outsiderWhat happens then? Will the transition proceed smoothly and fairly? Or will there be discord and possibly litigation? The answer may depend on
Plan Ahead
Buyout agreements can be a safety net for you, your business and your family.
Nov 27, 2012
| by Fred S. Steingold |
