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A review of business buyout agreements

A Kentucky business can have multiple shareholders who have ownership interests in the entity. From time to time, though, those shareholders may leave the business and need to divest themselves of the ownership rights and shares that they hold in the business. A buyout agreement is a contract that dictates the terms by which a shareholder may sell off their business shares and states whether the business itself has a right to buy the shares back.

Different business structures exist for different purposes

Starting a business can be a big endeavor for a Danville resident and it is important that they open their new entity with the best possible business plan in place. Business planning can begin even before a person knows exactly what their business will achieve and should involve a careful assessment of the business structures they may implement before they open their entities' doors.

Disclaimer: The information in this blog post (“post”) is provided for general informational purposes only, and may not reflect the current law in your jurisdiction. No information contained in this post should be construed as legal advice from Sheehan Barnett Dean Pennington Little & Dexter, PSC or the individual author, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting on the basis of any information included in, or accessible through, this Post without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from a lawyer licensed in the recipient’s state, country or other appropriate licensing jurisdiction.

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