The warm summer months are almost here, and many business owners will be spending some time relaxing away from the office. Before or after that well-deserved summer vacation, however, owners may want to tackle important issues concerning the company’s key agreements that have not kept pace with the growth of the business. Changes in these
People typically enter into business partnerships with the best of intentions. But when things go awry down the road, the minority partner may claim that the majority owner violated a fiduciary duty by failing to act in the best interests of the business or by acting so recklessly that it amounts to gross negligence. Before
Majority owners and minority investors act wisely when they negotiate and adopt a buy-sell agreement (BSA) at the time the private company investment is made because the BSA helps to avoid future conflicts between them. Signing a BSA, however, and deciding when to trigger it to require the purchase/sale of the minority interest are different