Common Contracts
1 similar Buyout Agreement contracts
Free business buyout agreement templateBuyout Agreement • February 7th, 2022
Death or Disability: If a partner becomes unfit to do the job or passes away, this may cause a buyout of his or her interest. Businesses have a 70 percent failure rate, making a buyout agreement all the more important. It should entail: A partner wants to set up a new business venture in a different location. A buyout agreement protects the remaining business partner from financial hardship or legal questions when one of the partners leaves the business. While such agreements deal with partnership valuation, what happens when a partner exits the business, and who can purchase the partner's share, it is not used to tackle financial and tax issues. The buyout agreement allows the remaining partner to maintain the business without further complications. Termination: In companies with multiple business partners or a corporation, the termination of one of the controlling partners can trigger a buyout. What makes the buyout agreement beneficial is that it's a legally binding document that bo
