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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 the majority owner, to buy the minority stake at a mutually agreeable price, or creating other mechanisms for selling the stake to third parties. Without these contract rights, a stakeholder has no liquidity and is stuck. This program will provide you with a practical to planning and drafting contractual liquidity rights in closely held companies.
Handout Materials will be emailed to you prior to the seminar
1.0 MCLE Credit Hour
Frank Ciatto, Venable, LLP – Washington, DC