Every business that has more than one owner should have a buy-sell agreement to protect the shareholders, their families, and the company. It offers protection by establishing the triggering events and the related terms and conditions for how a shareholder enters and exits their ownership of the business.

Too many businesses operate with either an outdated agreement or with no agreement at all. In our experience, most businesses either don’t recognize they need one, or they have one that was drafted decades ago but it hasn’t been looked at in years.

Steven E. Staugitis, Director, discussed why an up-to-date buy-sell agreement is so essential for your business in this article for Philadelphia Business Journal.

Read the article on Philadelphia Business Journal's Website