Business Buy Sell Agreement simplifies succession plan instantly
There are several types of Buy Sell Agreements, each tailored to different business needs:
- **Cross-Purchase Agreement**: In this arrangement, the remaining owners agree to purchase the departing owner's share. This type is common in small businesses with few owners.
- **Redemption Agreement**: Here, the business entity itself buys back the departing owner's share. This type is suitable for larger companies with more complex ownership structures.
- **Hybrid Agreement**: A combination of the cross-purchase and redemption agreements, offering flexibility to adapt to changing circumstances.