Legal Question in Business Law in Florida
I am trying to find out how to make a contract with another person to buy a 10% share of my business. What do I need to include in this contract?
2 Answers from Attorneys
The best way to "make" the contract you describe is to hire a lawyer to do it right.
There are too many items that need to be included in such a contract to answer them here. Most contracts are specific to the circumstances and the parties involved. They are not "fill-in-the-blank" forms that can be used by anyone.
If you are considering selling 10% of your business you really need to sit down with an attorney and a CPA to help you along the way. There is so much that needs to be considered and reviewed prior to drafting a contract like you are describing.
As a Franchise Attorney I agree with the other attorney. Also, you have not specified the type of business you are selling an interest in: sole proprietorship, corporation, LLC or ? Consult with a good business or franchise attorney in your area for specific advice.
Mr. Franchise - Kevin B. Murphy, B.S., M.B.A., J.D.
Franchise Foundations, a Professional Corporation
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