News & Analysis as of

Buy-Sell Agreements Contract Drafting Limited Liability Company (LLC)

Davidoff Hutcher & Citron LLP

The Restaurant Operating Agreement: 10 Clauses That Prevent Partner Disasters

An operating agreement (for an LLC) or shareholders’ agreement (for a corporation) is where you and your partners decide how the relationship really works. Without it, New York’s default rules step in — and those rules...more

Offit Kurman

Business Legal Maintenance: What to Review Before January

Offit Kurman on

As the year comes to a close and businesses prepare to wrap up 2025, there’s one critical task that should not be overlooked — a comprehensive legal check-up. Just as we schedule annual physicals to safeguard our personal...more

Bowditch & Dewey

Life Insurance, Buy-Sell Agreements, and the Connelly Problem: What Closely Held Business Owners Need to Know

Bowditch & Dewey on

Closely held businesses routinely use life insurance to fund buy-sell obligations when an owner dies. The logic is simple: the company or surviving owners need liquidity to effect redemptions or repurchases, and life...more

DarrowEverett LLP

Strong Operating Agreement Is Best Defense (and Offense) For Founders

DarrowEverett LLP on

Founding a business with a partner is similar to getting married in many ways; it is a long-term commitment with your financial future and livelihood at stake. Unfortunately, business partners often stop getting along at...more

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