Say that you started a company with another person and each of you signed a buyback clause. If you leave this company,anyone in your family can legally buy the share of the company that you own.

Question

Quizplus · Accepted Answer

The described buyback clause allows for a family member to purchase the departing member's shares, but it does not necessarily give them the legal right to do so. The buyback clause would need to include specific terms and conditions for such a transaction to take place.

Say That You Started a Company with Another Person and Each