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Best Practices for Drafting Buy-Sell Agreements Among Shareholders or Members

Learn about the complexities of preparing and drafting successful buy-sell agreements and how to avoid common mistakes. Every closely held entity (corporate, LLC, or partnership) that has more than one owner should have a buy-sell agreement. This document establishes the ground rules for determining when a shareholder or member can sell her shares, when she must sell her shares, and when she can require another shareholder or member to sell its shares. Valuation issues, successorship issues, governance issues, funding issues, change-in-control issues, even confidentiality and noncompete issues can all be addressed in a single document. Learn about the opportunities, and perils, inherent in a document that is too often treated as a fill-in-the-blanks form, if it is considered at all, from a member of the ABA Section of Business Law's committee drafting a model shareholder agreement.


Runtime: 91 minutes
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Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Conflicts Issues

  • How Many Hats Can You Wear?
  • Solutions, Both Theoretical and Practical

Purposes

  • Control Ownership
  • Anticipate Transition Events
  • Establish Valuation Methods
  • Allocate Control

Restricting Transfers/Permitting Transfers

  • Individual vs. Entity Owners
  • Death or Disability
  • Third Party Transfers
  • Owners as Employees
  • Special Situations
  • Addressing Transfer Restrictions in Company Sales

Valuation and Mechanics

  • Formula vs. Appraisals vs. Agreement
  • Who Buys and Who Sells?
  • Mandatory vs. Permissible
  • Rights of First Refusal
  • Payment Provisions

Funding a Buy-out

  • Buyer-Financed
  • Seller-Financed
  • Using Insurance and Cross-Insurance Provisions
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Mark R. High

Mark R. High

Dickinson Wright PLLC

  • Member, Dickinson Wright PLLC, Detroit, Michigan
  • Concentrates in corporate law, corporate finance, merger and acquisitions, and cross-border transaction issues
  • President, Canada-United States Business Association
  • Former chair of the Business Law Section, State Bar of Michigan
  • Conducts seminars on and author of articles dealing with buy-sell agreements for the ABA, State Bar of Michigan, trade associations, and commercial services
  • J.D. degree, Duke University; B.A. degree, The College of Wooster
  • Can be contacted at [email protected], 313-223-3650 or Twitter® @Mrhhigh
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Product ID: 400810
Published 2017
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