Smart Legal Strategy for Businesses That Are Built to Last
You've built something that matters. Protecting it—and positioning it for whatever comes next—requires sound legal strategy from attorneys who understand how businesses actually operate. At Bondurant Law, we work with established business owners across the Northshore to address the legal challenges that come with growth, partnership, transition, and everything in between. We skip the jargon and get to the point.
Business Formation & Governing Documents
How your business is legally organized, and what rules govern how decisions get made, will determine a great deal about what happens when things get complicated. Whether you're forming a new LLC or corporation, or you're an established operation that has never formalized your internal governance, having the right documents is essential to your company’s long-term health and security.
How voting works, who has authority to act on the company's behalf, what happens when owners disagree, and other key operational considerations are defined in either an operating agreement (for LLCs) or a set of bylaws (for corporations). Without the appropriate legal document, disputes between partners can—and often do—escalate quickly. The Bondurant Law team can draft these agreements to be practical, clear, and specifically tailored to how your business actually operates, not just copied from a generic form.
Buy-Sell Agreements
Most business partners don't talk about this until they have to—and by then, it's often too late to plan for it. A buy-sell agreement is a contract between business owners that defines what happens to each owner's share of the company if a partner dies, becomes disabled, divorces, or decides to leave. It protects the business from being forced into a bad situation, and it protects each owner's family from being stuck without a clear path forward.
These agreements also need to address two fundamental questions of valuation: how is the business interest priced, and who makes that decision? We guide our clients through every element of a well-structured buy-sell agreement so that it actually works when it's needed, not just when it's convenient.
Buying or Selling a Business
For most business owners, the sale of their business is the largest financial transaction they'll ever make. The structure of the deal—how the purchase price is determined, whether it's paid as a lump sum or over time, which party assumes existing liabilities, and how the transaction is handled for tax purposes—can have enormous consequences for what you actually walk away with.
We represent buyers and sellers in business transactions of varying sizes, providing clear, strategic legal counsel at every stage. If you're considering buying or selling a business, get counsel before you get too deep into negotiations. The earlier we're involved, the better we can protect your position.
Business Transfer Planning
Family businesses face a unique set of challenges when it comes to passing ownership to the next generation. Simply dividing the business equally among all your children can create more conflict than it resolves, particularly when some family members are actively involved in the business and others are not. Without a clear plan, what you intended as a legacy can become a source of lasting family division.
We've helped many clients navigate this transition thoughtfully. That means addressing ownership structure, management control, fair treatment of all family members, and tax efficiency, all within a plan that reflects both your business goals and your family values. We know this is personal, and we treat it that way.
Commercial Real Estate
Our commercial real estate practice works hand-in-hand with our business advisory work. Whether you're acquiring property for your operations, negotiating a commercial lease, or navigating development approvals, we have the experience to protect your interests.
FACING A BUSINESS DISPUTE?
No one forms a business partnership expecting it to end badly. But when a business relationship breaks down, each party needs their own attorney focused on their individual interests, not the company's. We provide frank, practical counsel to business owners navigating partner conflicts, whether the goal is a negotiated resolution or litigation.
Frequently Asked Questions
Find answers to common questions related to Business Advice and corporate transactions.
Absolutely! We offer consultations to discuss your legal needs and provide tailored legal advice. Contact our office to schedule an appointment with one of our experienced attorneys.
Operating agreements and bylaws both define the rules on how a company will operate, including how voting is to occur and who within the organization has the authority to take action on behalf of the company; the only difference between the two is that an operating agreement applies to a Limited Liability Company and bylaws apply to corporations. If you have a business with more than one owner, it is critical to create either an operating agreement or bylaws when starting your business to allow for a clear, agreed-upon process for handling voting and disputes.
The decision of who should be the owner of your family business in the next generation requires much consideration, and evenly dividing it among your children may cause more harm that good. While it may seem fair, often such a division could result in serious family disputes. Contact us to discuss ways to be both fair to all of your family members while also ensuring your business legacy is protected for years to come.
When selling or buying a business, the transaction includes so much more than the price and the assets. Any buyer or seller must consider the structure of the transaction for tax efficiency, whether to require all cash up front or payments over time, which party will be liable for any debts or claims that may arise, whether the seller will remain involved in the business, and much more. Schedule an appointment to learn more.
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Your Business Deserves Solid Legal Strategy
Whether you're planning for growth, navigating a transition, or dealing with a dispute, our team gives you direct, experienced counsel without the unnecessary complexity. Let's talk about your business today.