TMB lawyers help you not only help companies plan for future contingencies, but also manage your business log, resolutions, non-competition agreements, business contracts and other legal issues. Work with you to create a solid legal foundation and ensure a systematic share sale process in your business. One question we are often asked is whether a lawyer is necessary to create a sales contract. We strongly recommend that a lawyer reconsider this type of arrangement, and there are a few reasons for that. Another problem that can arise with contracts is that one party understands them much better than the other. Hiring a lawyer to answer questions or answer concerns is a good way to mitigate this problem. It helps all the co-owners of the company feel comfortable and know what the sales contract holds them. Before you begin the process of accepting a buyout contract, take advantage of our first legal consultation with one of the business lawyers of Trépanier MacGillis Battina P.A. We offer two (2) hours of tailored legal advice for the flat fee of 500 $US. Click here to check the terms of our original legal advice directive. TMB`s lawyers will design your purchase-sale contract for the purchase and sale of shares in your business based on the disability, death, termination of the employment relationship or the resignation of one of your owners. We help you choose an appropriate evaluation formula.
The sale agreement will also determine whether an owner can sell shares to third parties and whether the company retains a ”right of first refusal” to respond to the third party`s offer. Buyback agreements begin with the definition of the triggering events to which they relate. You can set up different methods to respond to different trigger events. It is important to put in place a buyout agreement long before you need it. Ideally, this type of agreement should be part of your initial business plan. It`s probably easier to get an agreement if you enter into a sales contract at the same time as starting your business.