family business partnership agreement
for many family owned businesses, it can be easy to overlook the legal documents that form the foundation of most businesses. while family businesses can benefit from close relationships and strong teamwork, sometimes it’s tempting to skip the legal documents that form the foundation of most businesses. set the tone and structure of your company with a family business agreement. also known as a shareholder agreement, this legal document controls the transfer of shareholder equity and it may prove essential for keeping the family business just that. it should include an appraisal of the current value of the business — one specifically suited to your type of firm — and a plan to periodically reassess that value. if the idea of asking your intended to sign a prenuptial agreement is distasteful, imagine telling your family you lost part of their business in a divorce or that your ex-husband is their new partner.