What documentation do I need to protect myself in a buyout?
January 15, 2014 12:18 PM Subscribe
I'm going to be bought out of a business of which I own a part. What documents should I copy and take with me to ensure my interests during a valuation and payout?
posted by sockless to Work & Money (7 answers total)
Together with my husband and his parents, I own part of company that's going to be valued between $1M and $1.5M. We are amicably divorcing and I am moving 1000 km. away, likely very soon. I am currently organizing everything so that someone can take over my position and thus still have access to all office documents.
While things are amicable, I do have to worry about getting bought out at a fair price (I own 19%, and we've taken deferred salaries since the business began, so the money is effectively my retirement funds to date). Our personal finances have been agreed upon and are not part of the concern.
In terms of valuation, I plan to engage a lawyer once I've left town. What I need to know is whether there is documentation I should be gathering (while I still have access) to protect my interests. I have already made copies of all incorporation documents and minutes.
Is there anything further that I should be copying and taking with me?