Articles Posted in Business Contract

Selling your ownership interest to an existing partner or co-owner is a buyout, but the legal process depends on your business structure and governing documents. A partnership interest, LLC membership interest, and corporate shares can each involve different transfer rules, approval requirements, and buyout terms. Before agreeing to a price or signing a buyout agreement,…

When two or more people run a business together, California law treats them as more than co-owners. They are fiduciaries to one another, meaning each partner is legally required to put the interests of the partnership ahead of personal gain. A breach of fiduciary duty happens when a partner crosses that line and acts in…