You can structure your buy-sell agreement in different ways depending on your business structure and your own needs. For example:
- An entity-purchase buy-sell obligates the business to purchase the interests of each departing or deceased owner.
- A unilateral or one-way buy-sell is used in a sole proprietorship, for example, when you are the sole owner of a business and wish to sell it in its entirety to a family member or key employee.
- A wait-and-see buy-sell gives the business the first option to buy, and lets the remaining owners choose to buy if the business does not exercise the option to purchase.