Every corporation or limited liability company with more than one owner should have a written agreement that, at the very least, sets forth the agreed terms respecting governance of the company. The most obvious of these are the pre-agreed terms as to how managerial decisions will be made and by whom. Many of these agreements also include buy-sell terms, i.e. terms that apply when an owner suffers a “Buy-Sell Event” such as death, disability, retirement, loss of license, etc.

This CLE program will be presented in two parts by corporate specialist Richard Waxman. The initial portion will be an over-view of Shareholder Agreements and Operating Agreements, focusing on (1) governance provisions and (2) buy-sell provisions. That will be followed by a series of practical recommendations with sharp focus on start-ups and the best ways to streamline the governing agreement and thus reduce the legal fees at a time when companies can least afford them.