We offer a variety of business services. These include the following:
A. Entity Formation. Formation (or dissolution) of legal entities, such as corporations, partnerships, and limited liability companies, and associated legal advice.
B. Business Purchase and Sale Agreements. We represent clients who are either purchasing or selling a business. We assist in the negotiation of the terms of the transaction as well as the drafting of the legal documents.
C. Shareholder Agreements. Often two or more people are shareholders of a corporation. A Shareholder Agreement between them is beneficial to deal with the following circumstances (among others):
(1) If one shareholder desires to sell his or her interest, he or she must first offer to sell to the other shareholder. This allows the remaining shareholder to protect the management of the enterprise from a stranger with whom he or she may not get along.
(2) If one shareholder dies, the agreement may require the estate of the deceased shareholder to sell the decedent’s interest in the business to the surviving shareholder, thereby protecting the surviving shareholder from the beneficiaries of the deceased shareholder’s estate, while at the same time giving the estate beneficiaries the value of the decedent’s interest in cash. These buy-out obligations are often funded with life insurance policies on the shareholders’ lives.
D. Partnership and LLC Agreements. These agreements set forth the terms and conditions upon which the partnership or LLC will operate. Among other things, these agreements will provide rights of first refusal if one partner or member wants to sell his or her interest, or if one partner or member dies. These buy-out obligations are often funded with life insurance on the partners’ or members’ lives.