Medlin & Medlin, PA
Attorney at Law
(704) 786-8173
Concord, NC 

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CONTRACT LAW

RISK WITH FELLOW BUSINESS OWNERS

Let me caution you concerning a serious risk involved with your fellow business owners.

You have assembled a wonderful team of people to work in the business and everything is going great.

Suddenly one day you find that all of your wonderful fellow business owners have sold all their interest in the business to people that you do not even know.

Now you have a whole set of fellow owners with unknown motives.

Protect yourself from such an event with the necessary contract terms among all the owners of a business.

Make sure that all the owners of the business have to give each other sufficient notice of any intent to sell their interest.

Be sure to stipulate how those interests will be valued with appropriate established accounting methods.

Also, be certain that you have the right of first refusal to buy those shares of the business.

Although operating your business is a wonderful opportunity, operating your business is also filled with enough potential difficulties without having to worry that your fellow business owners will suddenly jump ship and leave you with unfamiliar people to deal with.

In nearly 40 years of law practice, I have handled hundreds and hundreds of effective business contracts.

My job is to take care of my clients.

Call me.