When a business starts out, it’s often easy for co-owners to believe that they will be in business together forever. Reality is usually quite different. A business can be seriously disrupted if a partner leaves either as a result of death, permanent disability or retirement; the first two more so, because they are usually unforeseen.

Can your business handle the sudden departure of one of its owners?

Many businesses protect themselves from such a situation through a Shareholders Agreement or Buy/Sell Agreement. Sometimes, business owners fail to cover all their bases in these agreements.

Does the agreement cover death, disability, retirement and disagreement?

Does the agreement include a workable and accurate valuation formula for the business?

Is the agreement funded?

If you do not have an agreement with your business partner, we really need to talk! I will be calling you in the next few days to arrange a time for us to get together. I believe it will be worth a few minutes of your time to ensure your business is protected.