Business Buyout Agreements: Plan Now for All Types of Business Transitions by An

Description: Business Buyout Agreements by Anthony Mancuso, Bethany Laurence People have been starting new businesses like crazy during the pandemic, but without a buy-sell agreement, any entrepreneur who goes into business with others has no exit strategy. Without one owners risk losing the money and work they put into their business. FORMAT Paperback LANGUAGE English CONDITION Brand New Publisher Description Head off disagreements with co-ownersIt happens to any business thats owned by more than one person: Sooner or later, one or more owners will want or need to leave the business. What happens when youre ready to move on? Or what happens to your company if one co-owner wants to retire, files for bankruptcy, or goes through a divorce? Unless you plan in advance, it could threaten the survival of your business.In short, its essential that you create a simple but effective "prenuptial agreement" for your company with a buyout agreement (buy-sell agreement). This document clarifies: when you or your co-owners can sell ownership intereststhe circumstances requiring an owner to sell (personal bankruptcy, for example)how much departing owners can ask for their shares, andhow long continuing owners have to pay the former owner. Business Buyout Agreements walks you through the creation of your own legal agreement--before issues come up and cause problems. It provides all the tax and legal information you need at every step, such as how to structure the agreement to avoid estate taxes. Youll have a clear, fair agreement--and peace of mind.With Downloadable Forms Everything you need to create a buy-sell agreement is provided, details inside. Author Biography Bethany Laurence is an attorney and joined Nolo as a legal editor in 1997. She holds a law degree from University of California, Hastings College of the Law, a B.A. degree from Boston University (Phi Beta Kappa, magna cum laude), and is a member of the California State Bar. Beth is Nolos disability, retirement, and elder law editor. In addition to editing these sections of Nolos network of websites, Beth edits the books Nolos Guide to Social Security Disability, drawing on work in a legal clinic helping Social Security disability applicants apply for and appeal denials of disability benefits, The Complete IEP Guide: How to Advocate for Your Special Ed Child, Californias Workers Comp, and Social Security, Medicare, and Government Pensions.Beth has also developed Nolos online LLC formation application. Over the last decade she has been active on the board of directors of several local environmental and educational nonprofit organizations. Anthony Mancuso is a corporations and limited liability company expert. A graduate of Hastings College of the Law in San Francisco, Tony is an active member of the California State Bar. Tony writes books and software in the fields of corporate and LLC law and has studied advanced business taxation at Golden Gate University in San Francisco. He also has been a consultant for Silicon Valley EDA (Electronic Design Automation) and other technology companies. He is currently employed at Google in Mountain View, California.Tony is the author of many Nolo books on forming and operating corporations (profit and nonprofit) and LLCs. Among his current books are The Corporate Records Handbook; How to Form a Nonprofit Corporation; Incorporate Your Business; Form Your Own Limited Liability Company; and LLC or Corporation? His books and software have shown over 500,000 businesses and organizations how to form and operate a corporation or an LLC. Tony is a licensed helicopter pilot and guitarist. Table of Contents IntroductionYour Legal Companion for Creating a Buyout Agreement1. An Overview of Buyout Agreements2. Limiting the Transfer of Ownership Interests3. Providing the Right to Force Buyouts4. Structuring Buyouts5. Funding Buyouts6. How to Set the Buyout Price in Your Agreement7. Choosing Payment Terms for Buyouts8. Completing and Updating Your Buyout Agreement9. Income and Estate Tax Issues10. Lawyers, Tax Specialists, and ResourcesAppendixesA. How to Access the Buyout FormsB. Buyout WorksheetC. Buyout AgreementIndex Review "Nolo has been publishing excellent self-help legal manuals since 1971." Kiplingers Personal Finance Magazine "For more on buy-sells... read Nolos Business Buyout Agreements." Inc. Magazine "Business Buyout Agreements takes you through it, step by step..." Accounting Today "Buyout agreements should be part of the initial documents when people start a company together, say Laurence and Mancuso, because it sets out in advance the rights of each owner if someone wants or needs to leave the business. Among the matters they discuss are when and how to allow an owner to request a buyout, when a buyout should be required, how to restrict who can buy into the company, how to value the business and each owners share, how to set up payment terms to make future buyouts affordable, and how to provide the funds for future buyouts." Eithne OLeyne, Editor, ProtoViewAuthor comment: This book helps create a buyout, or buy-sell agreement, which is like a premarital agreement for business owners. Only 20% of businesses have this type of agreement, but 100% need one. Without a buyout agreement, the owners risk losing the money and work they put into their business when one of the owners wants to leave - or when an owner gets divorced, dies, or files for bankruptcy. This book walks you through creation of a buy-sell agreement and includes a fill-in agreement that can be tailored for owners of corporations, LLCs, and partnerships. Review Quote "Nolo has been publishing excellent self-help legal manuals since 1971." Kiplingers Personal Finance Magazine "For more on buy-sells... read Nolos Business Buyout Agreements." Inc. Magazine "Business Buyout Agreements takes you through it, step by step..." Accounting Today "Buyout agreements should be part of the initial documents when people start a company together, say Laurence and Mancuso, because it sets out in advance the rights of each owner if someone wants or needs to leave the business. Among the matters they discuss are when and how to allow an owner to request a buyout, when a buyout should be required, how to restrict who can buy into the company, how to value the business and each owners share, how to set up payment terms to make future buyouts affordable, and how to provide the funds for future buyouts." Eithne OLeyne, Editor, ProtoView Author comment: This book helps create a buyout, or buy-sell agreement, which is like a premarital agreement for business owners. Only 20% of businesses have this type of agreement, but 100% need one. Without a buyout agreement, the owners risk losing the money and work they put into their business when one of the owners wants to leave - or when an owner gets divorced, dies, or files for bankruptcy. This book walks you through creation of a buy-sell agreement and includes a fill-in agreement that can be tailored for owners of corporations, LLCs, and partnerships. Promotional "Headline" This is the only book that helps business owners create a buyout plan, or buy-sell agreement for their business. Like a prenuptial agreement, a buy-sell agreement plans is advance for owner transition such as divorce, retirement or death. Without one, owners risk jeopardizing their investment in the future of their business. A fill-in agreement is provided with the book. Author Comments This book helps create a buyout, or buy-sell agreement, which is like a premarital agreement for business owners. Only 20% of businesses have this type of agreement, but 100% need one. Without a buyout agreement, the owners risk losing the money and work they put into their business when one of the owners wants to leave - or when an owner gets divorced, dies, or files for bankruptcy. This book walks you through creation of a buy-sell agreement and includes a fill-in agreement that can be tailored for owners of corporations, LLCs, and partnerships. Description for Sales People Audience: Small business owners who share ownership with one or more owners, whether they own a corporation, LLC, or partnership. What is new in this edition: A buyout, or buy-sell, agreements is like a prenuptial agreement for business owners. It sets out a framework for what happens if a co-owner decides to sell and leave the company, dies, or goes bankrupt. Only 20% of businesses have a written buyout plan, or buy-sell agreement, but 100% need one. This books includes an entire buy-sell agreement with fill-in the blank clauses. Description for Press or Other Media This is the only book that helps business owners create a buyout plan, or "buy-sell" agreement, which is like a prenuptial agreement for business owners. Without one, one owner can bankrupt or ruin the company. A fill-in agreement is provided with the book. Details ISBN1413329659 Short Title Business Buyout Agreements Publisher NOLO Language English Year 2022 ISBN-10 1413329659 ISBN-13 9781413329650 Format Paperback Publication Date 2022-06-28 Subtitle Plan Now for All Types of Business Transitions Author Bethany Laurence Edition 9th Imprint NOLO Country of Publication United States AU Release Date 2022-06-28 NZ Release Date 2022-06-28 US Release Date 2022-06-28 UK Release Date 2022-06-28 Pages 336 Edition Description 9th ed. 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