If I Am Going into Business with Family and Friends, Do I Need a Buy-Sell Agreement?

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Transcript of If I Am Going into Business with Family and Friends, Do I Need a Buy-Sell Agreement?

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A buy-sell agreement:

Protects the person who is leaving the business by establishing a mechanism for him to painlessly exit

Protects those who continue to stay on in the business by dictating what happens to a co-owners share of the company when he or she leave

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