It’s very common to build in a right of first refusal into a governing document. It’s a way of keeping the shares in the family. The way it works is that the partners have a right to match the material terms of any bona fide offer from a third party. There’s usually a process and it’s rigid to comply. Only if the partners fail to follow through can the sale to a third party occur.
Don’t forget to download our FREE:
Business planning stress test
Florida business entity comparison chart
Video Ads Mastermind business accelerator from the highly credentialed Tall Oak Consulting; helps businesses level up in a straight line, minimizing the painful process of learning and adjusting, to achieve founders’ particular goals.
99 Designs – economical design for your initial IP
Protect your family, assets and business, and gain the peace of mind of knowing you’re prepared and in control. You may feel apprehensive about estate planning, but it doesn’t have to be this way. We’ll help you achieve your estate planning goals and ensure you feel accomplished and confident. With our 4-step unique proven process, leaving a legacy you can be proud of is easier than you think. The alternative can mean significant taxes, court, costs, conflict (litigation) and a host of unpleasant and destructive surprises. Call us to get started today at 954-228-3369.
Offices in Plantation, Florida and Sound Beach, New York (Long Island).
Advanced Care Directives
Business Succession Planning
These videos neither constitute legal advice nor create an attorney-client relationship between you and Haimo Law. For more information, click here: https://www.haimolaw.com/legal-disclaimer/