What is a Shareholder Agreement?
A shareholder agreement is an agreement between two or more shareholders to deal with various company matters such as buy-outs, death and disputes. Shareholder agreements are highly recommended for all company’s whether small, medium or large. If drafted properly, shareholder agreements can prevent costly litigation between shareholders.
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Purchasing a business can be done in two ways. You can purchase the assets of a business and you can purchase the shares of the corporation that owns the business.
Purchase of Assets
A purchaser normally prefers to purchase the assets of a business. This way, the purchaser can decide on the liabilities that it wants to purchase. The assets are normally all of the intangible property used to operate the business. For example, for a restaurant, the assets would involve all of the chairs, tables and equipment used to operate the restaurant, as well as the leasehold improvements and the goodwill of the business.
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