: Specifies a predetermined formula or process (like hiring a third-party appraiser) to determine the fair price of the ownership interest.
: Generally prohibits the sale of ownership interests to third parties without the consent of the remaining partners.
: Typically gives the remaining partners or the business itself the first option to buy a departing partner's interest before it can be offered to an outside buyer. Common Types of Buy-Sell Agreements Templates generally follow one of three primary structures: Why buy-sell agreements matter in business | Baker Tilly