A buy-sell agreement offers a concrete way to protect the future of your business and ensure that it lasts beyond your commitment. If you do not have a buy-sell agreement in any of the circumstances mentioned above, your business could be subject to division by sale. This means that a court can order the dismantling and sale of business items in order to create the financial value to which a new owner is entitled. Another jurisdiction could decide to grant ownership to a new person in one of the above circumstances, which would give that new person the same decision-making capacity as existing partners. This agreement would protect the business, so that the heir or former rights of the spouses could be taken into consideration without having to sell the business. These agreements are often compared to marriage contracts for companies. It includes the terms of sale, what is or is not included in the sale price, and optional clauses and warranties to protect both the seller and the buyer after the conclusion of the transaction. Buyers will receive from the seller the guarantee that the company will be in good condition with the State and that it will have the necessary licenses for legal operation. .