January 28, 2014
12:00 – 1:00 p.m.
1.00 MCLE hours
Most partners in closely held companies have their eyes on the exits. Eventually they want to be able to cash out their interests in the entity and do something else or retire. Sometimes too, the need to exit an ownership position is forced by death or disability. The challenge is finding a buyer. Even very successful closely held companies discover that the market for interests in private companies is very limited and, most of the time, unless the seller has built-in buyer (children, partners, or employees), the interest will go unsold. This program will provide you with a guide to drafting buy-sell agreements to create a market for closely held company interests, including triggering events, valuation, purchase mechanisms and dispute avoidance.
Frank Ciatto, Venable, LLP, Washington, D.C.