Business Attorneys in Jacksonville, FL
Starting and operating a business can be very challenging. This can be especially true for small closely held corporations, partnerships and family businesses. These types of business entities usually rely heavily on the contributions of key members of the organization. Unfortunately, however, many businesses are not properly prepared for the sudden loss of a partner or co-owner. This can leave the company in a precarious position. All businesses should have a written buy-sell agreement that specifies exactly what happens if a key partner retires, dies or is incapacitated.
A buy-sell agreement can specify exactly what happens to an owner’s business interests in the event of his death, incapacitation, retirement or even bankruptcy. A buy-sell agreement can address issues such as whether an owner’s business rights pass on to a family member when he leaves or if the company has the first option to buy his shares. If the company has the option to buy the departing owner’s rights, a buy-sell agreement can outline the exact method to be used in calculating the value of his share of the business. Well drafted buy-sell agreements will prevent a wide range of future business disputes.
Buy-sell agreements can be complicated. It takes considerable experience and expertise to draft a comprehensive buy-sell agreement that is designed to address the unique needs of your business. Don’t try to save money by doing this yourself with pre-made forms. Get a business attorney Jacksonville FL to help you.
Lindell Farson & Zebouni, P.A.
The attorneys in Jacksonville FL at Lindell Farson & Zebouni, P.A. have been helping their business clients with complicated civil litigation issues since 1987. They have the experience necessary to draft a comprehensive buy-sell agreement that is tailored to meet the specific needs of your business. This can save you a lot of time and money in the future by avoiding costly litigation over unforseen problems. Don’t take chances with the financial future of your business. Call Lindell Farson & Zebouni, P.A. today for a confidential case evaluation.