Best Practices for Drafting Buy-Sell Agreements Among Shareholders or Members, Alabama CLE 1.1

Learn about the complexities of preparing and drafting successful buysell agreements and how to avoid common mistakes. Every closely held entity (corporate, LLC, or partnership) that has more than one owner should have a buysell agreement. This document establishes the ground rules for determining when a shareholder or member can sell their shares, when they must sell their shares, and when they can require another shareholder or member to sell their shares. Valuation issues, successorship issues, governance issues, funding issues, changeincontrol issues, even confidentiality and noncompete issues can all be addressed in a single document. Learn about the opportunities and perils inherent in a document that is too often treated as a fillintheblanks form, if it is considered at all, from a member of the ABA Section of Business Laws committee drafting a model shareholder agreement.