Buy-sell agreement

{
  "id": "MLC-T-LAW-000819",
  "term": "Buy-sell agreement",
  "field": "Law",
  "definition": "A contract among business owners that dictates how an owner's share of the business will be reassigned upon certain triggering events, such as death, disability, retirement, or voluntary departure. This agreement provides a mechanism for the orderly transfer of ownership interests and can establish a predetermined valuation method for the shares. It is a common tool for succession planning in closely held companies.",
  "url": "https://mlchart.com/terminology/law/buy-sell-agreement/"
}