BUY-SELL AGREEMENT: IF YOU ARE SURE THAT YOUR COMPANY HAS IT ALL FIGURED OUT THEN DELETE THIS EMAIL

​Successful MOC’s (multiple owners companies)have “dotted every I” and “crossed every T”. They have written plans, written contingency plans, and written back up plans. They have written operation manuals, written procedure manuals, and properly written employment guidelines. Its accounting and finances are subject to written procedures and guidelines as well. They even have drafted projections and forecasts for the company and the market.

For these MOC’s to be caught off guard it will be due to a lack of good counsel.

That said most MOC’s, in my experience, are missing good counsel when it comes to a buy-sell; agreement (BSA).  A BSA regulates among owners how ownership interests can be sold or transferred among themselves or to third parties, with or without an owners consent. The BSA will apply when an attempted sale is made to third parties, when owners need to be removed for poor performance or arrest or other issues, and when an owner has personal issues that may impact the MOC (e.g. divorce, death, and bankruptcy) 

Most of my new MOC clients, unfortunately,  come to see me after the problem among owners requires an attorney to fix it. That is because it was never advised to get a BSA.  Now it will require much more money for it to resolve the dispute among ownership that often threatens the business operations. 

So when it comes to MOC’s, good counsel is to recommend that the owners execute a BSA to address the issues above and other issues of concern related to the transfer or sale of an ownership interest.  A BSA helps stem off company disruptions by addressing all issues that may cause conflict among owners related to the sale of an owner’s interest. 

Litigation can run, per litigant, thousands of dollars.  We can deal with these issues in advance for only $1000.00.  It is likely that you will run into an ownership issue related to the sale of an ownership interest.  

Click here to continue. 
  - Yoel Molina,esq.

‘Our only goal is your success’
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