buy-sell agreement

A buy-sell agreement is a contract among business owners that sets rules for what happens to an owner’s shares if they leave, retire, become disabled, or die. It typically specifies who can buy the interest, how the price is determined, and how the purchase will be funded.

How to Draft a California LLC Operating Agreement That Prevents Member Deadlock and Forced Dissolution

Business & Corporate Law / Jack Gilbert

A well-drafted California LLC operating agreement can reduce deadlock risk by adding at least 5 core mechanisms: voting thresholds, tie-breakers, buy-sell exits, interim management, and dissolution waivers. California LLCs often fail not from bad business, but from equal-member stalemates that paralyze decisions and invite petitions to dissolve. This article explains how to draft deadlock-proof provisions […]

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Business partners signing buyout agreement document

What is a buyout agreement?

Business Contracts, Business Law, Contracts / Jack Gilbert

A buyout agreement is a legally binding contract that sets the price and process for one owner’s shares to be purchased when they leave a business, often using a preset valuation method or formula. It helps prevent disputes and protect continuity after events like death, disability, retirement, divorce, or a voluntary exit. This article explains

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