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It is okay to admit that you don’t always understand the legal documents that are placed in front of you. You are not alone. Women Entrepreneurship requires the assistance from legal experts from time-to-time.

ExitPromise.com offers women in business articles and information written by Attorneys in easy to understand language to help women entrepreneurs as they build and grow a business.

And when the time comes for to sell a business, the language, terms, and concepts can be unfamiliar and complex. Again, legal expertise is available to guide you through this process.

Latest Articles and Posts:

The Importance of Buy-Sell Agreements to a Woman in Business: Tweet
By Charles Laverty, Jr., ASA, CBA, CFFA

For every woman in business, a smooth transition of business ownership will be of importance at some future point. The Buy-Sell Agreement deals with a specific exit strategy case. An agreement by and between business owners, it establishes a mechanism for the purchase of ownership interests following the departure of an owner due to a triggering event (i.e., death, divorce, disability, retirement, etc.).

The primary purpose of a buy-sell agreement is to maintain ownership and operations within the existing management/ownership group; avoid interference from the exiting owner’s family; provide liquidity to pay estate taxes/retirement; avoid disputes with the exiting owner’s family regarding succession and value; and provide for a smooth transition to the next generation.

The two most common types of buy-sell agreements include:

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Confidentiality Agreements: What Women Entrepreneurs Should Know: Tweet
By Jennifer M. Novotny and Michael E. Silverman, Attorneys at Law

A typical women entrepreneur invests a tremendous amount of time, effort and money in building a business. That is why it is so important for women entrepreneurs to make sure employees and third parties who work with the business are prohibited from improperly using or disclosing any confidential or proprietary information of the business(e.g. customer lists, trade secrets and financial statements). Similarly, and in connection with selling a business, it is critical for the owner of the business not to provide any confidential information to a prospective purchaser until that party has signed a well-written confidentiality agreement.

Confidentiality agreements are designed to protect one of the most valuable assets of a business— proprietary information. Confidentiality agreements are used for many different purposes (e.g. engaging employees and independent contractors, and negotiating a contract such as a supply and distribution agreement). However, this article focuses on the use of confidentiality agreements in connection with selling a business.

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