New York Businesses With Multiple Owners Should Create A Buy-Sell Agreement

When there is more than one owner of a New York business, creating a buy-sell agreement can save time and money when the eventual change in ownership occurs. New York business owners know that circumstances can change at a moment’s notice. That is why ensuring that your business is prepared for whatever waits around the corner is crucial. Part of being fully prepared is having a buy-sell agreement in place. New York businesses of all forms and sizes with more than one owner should create a solid buy-sell agreement in anticipation of future changes. A buy-sell agreement, also known as a buyout agreement, is a legally binding agreement between co-owners of a business that governs the situation if a co-owner chooses to leave the business, is forced to leave the business or passes away. Creating buy-sell agreements come with many advantages. First, the cost of creating a buy-sell agreement is

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