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A client investment in an operating business, particularly a minority stake, is only as good as its liquidity. If a client cannot readily sell his or her ownership stake at fair market value, it has little real value.
The key to ensuring liquidity is contractually creating a private market for the ownership stake.
This market can come in the form of requiring other stakeholders, including a majority owner, to buy the minority stake at a mutually agreeable price, or providing other mechanisms for selling the stake to third party buyers.
Without these contract rights, a stakeholder has no liquidity and is stuck.
This program provides a practical to planning and drafting contractual liquidity rights in closely held companies.
January 18, 2018 1:00 PM Eastern
NC State Bar
Mandatory Continuing Legal Education (MCLE) and Certified Paralegal Education (CPE) (Total): 1.00