
How to Use a Buy-Out Agreement to Protect Your Business From the Death, Disability, Retirement, or V
by Jennifer A. Grady, Esq. Failing to create A buy-out agreement, also known as a buy-sell agreement, is a legally binding contract between co-owners of a business that governs the situation if and when a co-owner dies or leaves the business. Every co-owned business needs this agreement the moment the business is formed, or as soon as possible after the formation. A buy-out agreement not only protects the remaining business owners when a co-owner intends to leave the company