Who is the client in a buy-sell agreement?
In a buy-sell agreement there are always at least three people involved – the entity and at least two owners. Does that mean you need to have three lawyers to look out for the interest of each of those people? Technically that may be true but practically speaking that is typically not the case. If you are retained by an organization you represent that organization, not the individual shareholders. Remembering who your client is will help to avoid attorney-client privilege issues.
Mark R. High
Dickinson Wright PLLC
- Member with Dickinson Wright PLLC in Detroit, Michigan
- Concentrates in the areas of business law, corporate finance, corporate governance, and international transactions
- President of the Canada-U.S. Business Association in SE Michigan/SW Ontario; former chair of Michigan Business Law Section
- Conducts seminars on and writes 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 313-223-3650 or [email protected]
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