Intra-Business Agreements

Operating Agreements and By-Laws

Prior to, contemporary with starting a business or shortly after your business is created, it is essential to plan how your business will be ran and, also, how your business may conclude.  Such planning will protect your interests and your business.

Georgia law requires that directors of corporations adopt bylaws prior to or contemporaneously with initial issuing shares of the corporation.  Bylaws are an essential part of Corporate Compliance.calculator monchrome

Additionally, well-contemplated and drafted operating agreements, partnership agreements, and shareholder agreements implemented early in your company’s life can save you from many problems later.

Throughout the course of business your company may also need to pass resolutions or make amendments to agreements to adapt to changes in your business, such as growth in size and revenue.

It is essential that all these agreements are both pursuant to and binding under Georgia law.

Shareholder Agreements

Shareholders of a corporation may enter into one or more agreements to regulate the business and affairs of a close corporation.  Common reasons for such agreements include regulating ownership of shares, restricting transfer of shares, determining control and management of the company, and predetermining resolutions for disputes between shareholders.

Alford & Burkhart can provide assistance to corporations and shareholders in implementing of such agreements and provide individual shareholders legal guidance and advice regarding their rights and duties under them.

Alford & Burkhart has the knowledge, skills, and experience to draft the contracts and agreements you will need to successfully run your company. Contact us now for more information and a legal assessment of your company’s needs.

Buy-Sell Agreements

Business partners may enter into agreements as to how partners or the company will buyout the business interest of a partner upon that partner’s death, disability, divorce, disagreement or departure (THE 5 Ds).  These agreements commonly include (1) when a partner can or must sell his or her interest, (2) who can or must buy the interest and (3) how that interest will be valued.  Additionally, business partners may agree upon funding methods, such as company owned life insurance.

Comprehensive and well-contemplated Buy-Sell Agreements are an essential part of business succession planning by Alford & Burkhart.