• Davis Law Group Team

Category Archives: Business Planning

Virginia Buy-Sell Agreement – Valuation Methods

One of the most important considerations in a Buy-Sell Agreement is the valuation method to determine the price at which a business owner may, or is required, to purchase the departing owner’s interest.  There are three basic options for valuing your business in a Buy-Sell Agreement: (1) fixed price, (2) formula, or (3) appraisal. Fixed Price...
Read more

Virginia Buy-Sell Agreement – Cross Purchase v. Redemption

In my previous blog post entitled Protect Your Virginia Business with a Buy-Sell Agreement, I wrote in depth about the three essential terms of a buy-sell agreement.  I coined the second element as the WHO element.  The WHO element asks “who has the authority to purchase the ownership interest...
Read more

Protect your Virginia Business with a Buy-Sell Agreement

Do you own a small business or plan to start a new business with a partner/co-owner? Have you considered what will happen in the event of your death or your business partner’s death? What if your business partner is sued for divorce or declares bankruptcy? All of these events (and more) may negatively impact the operation of your small business. It is important to plan ahead.

Read more

The Document Mentality – Legal Zoom

I often have friends ask me, "Can't I just go to Legal Zoom and do a Will?" or "How much does it cost for a Will or a Trust?" Both of these questions reveal the mistaken belief that lawyers sell paper, and that its just a matter of getting the right "template" for the situation and then filling in the blanks. I suppose the thinking is that the better lawyers have better templates, or that more experienced lawyers know how to fill in the blanks more accurately or efficiently. Interesting concept.

Read more