Protecting Your Business Partnership: Buy-Sell Agreements (MSBB)

If you are in business with other people, the reality is that at some point, you will not be. As with any personal or professional partnership, communication is key. By working together to create a buy-sell agreement – before someone leaves the business – you can create a strong foundation for your partnership and ensure that you are starting on the same page.

Already in business but haven’t looked at your agreement in a while? Whether you are starting a new business or revisiting the agreement you already have in place, there is no time like the present to ensure that it still reflects your intent.

Who should attend: *New business partners who want to learn more about creating a buy/sell agreement and what your agreement should include *Existing businesses owners who are considering bringing in a new partner *Business owners seeking options for relieving the pressure on a business that is too dependent on the owner

Class Description Buy-sell agreements are drafted by attorneys who incorporate important legal provisions. Yet without your guidance, these agreements make assumptions about the terms of the valuation process.

*How will the business be valued? *How much does each partner receive? *Do the circumstances – death, disability, quitting the business, retiring, termination – impact the answers to these questions?

By considering all of these areas before a a triggering event occurs, you can ensure that partnership transitions remain as smooth as possible – and it is much easier to make these determinations before you know which partner will “pull the trigger.”

In this session, we will cover why phrases like “Fair Market Value” and “Book Value” are not sufficient direction to a business appraiser, and why formulas don’t work. We will also share a matrix developed by Capital Valuation Group for determining the intent of the owners under all triggering events. By documenting your intent when you aren’t in crisis allows you and your business partner(s) to clarify your intent and avoid frustration, arguments, and potential litigation.

Please only register if you are available and plan to attend, so the provided funding can assist as many small business owners as possible.

This is an IN-PERSON in event in Madison.

Cancellation Policy: You may cancel your registration up to 24 hours prior to the start of this training program without penalty. Cancellations, requests, and other notice of changes for this program should be provided in writing by sending an email to sbdc@wsb.wisc.edu indicating your name, business, and the course you were registered for.

Waitlist: If this class is full, please let us know that you are interested in attending by adding your name to our waitlist.

Fee: $99.00 WEDC will cover registration cost of the class for Main Street Bounceback grant recipients who register for and attend the complete course.