thederekjohnson.com

Every entrepreneur thinking of starting a company needs to read this great post from Simon Brownlie. This has been an immense help with the legal side of Tatango.com. Thanks Simon!

“Do we need a Buy-Sell agreement?”.  The fact that clients ask this question is a great sign; it shows that they are at least aware of the fact that where there are two or more owners of a business or legal entity, they should always have a plan that describes clearly what will happen if something happens to one of them, or if he or she wants out of the relationship.

This plan is often called a “Buy-Sell” agreement, and I can honestly say that it can be one of the most difficult and demanding documents to put together, but also one of the most essential.

Now I’m the first to agree that there are many form documents available to consumers these days that require little input beyond a basic set of Q&A prompts (such as simple wills or real estate documents), but I would not place buy-sell agreements in this category.

Read More →