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What to Pay in a Partner Buyout

What to Pay in a Partner Buyout

By Nina Kaufman, Esq.

When you’re thinking about business divorce, there are a couple of hot button items that come to mind. First, you want to know which events trigger a buyout.  The three D’s usually factor into the most well-drafted partnership agreements: death (pretty obvious), disability (perhaps less obvious–how would you define “disability”?), and dissolution (you and your partner agree to close up shop). Next, you need to know where the money will come from. In the case of death, it can come from life insurance proceeds. But the kicker is often how much will you pay? Chris Mercer, author of the newly released Buy-Sell Agreements for Closely Held and Family Business Owners,  raised this issue in an earlier treatment of the subject of buy/sell agreements. Well, to take the poet, Elizabeth Barrett Browning, out of context, “Let me count the ways”: You could agree on a fixed price. Problem is, the price you establish at the inception may not be fair 10 years down the road. You could develop a formula, such as a multiple of earnings.…

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Nina Kaufman

Flying solo doesn’t have to mean going it alone.

I’m Nina Kaufman.

I know first-hand that running a knowledge-based service business has unique challenges. It’s so much easier when you have an advocate in your corner. Over the past 25 years, I’ve worked with thousands of New York business professionals who want a legal advisor to guide and support them as they navigate the business world.

With wide-ranging experience as a business attorney, strategist, and media authority, I bring the added power of a business lens to the legal issues my clients are facing.

And because I’ve been a business owner myself, I’ve lived through the soaring highs and devastating lows – like when my first law firm failed. So I understand what’s involved to serve great clients, detect business risks early and build a true legacy.

I can’t get those 12 years back. That’s why I have made it my mission to ensure that business professionals like you can become wise and discerning leaders, build a solid business, and live your best life.