Month: February 2014

What does wealth mean to you?

How do you define wealth? When you hear the word wealthy, what do you think of? Do you think of having your own private aeroplane, living in a mansion and driving fancy cars? Or do you define wealth as not having to go to an 8am-5pm job every day, taking several holidays a year and being free to determine your own schedule? Is it possible that you have defined wealth as an absolute sum – say two million dollars in your bank account? Everyone defines wealth in a different way. For some people, simply not having to worry about money means being wealthy. Your definition of wealth can also change

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Buy/Sell Agreement

A buy/sell agreement runs alongside a partnership/shareholders agreement.

It is put in place to protect the partners and shareholders of a business and states that should a partner or shareholder leave the business for any reason the remaining partners/shareholders must buy the exiting partner’s shares for the rightful market value.

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Buy/Sell Agreement

A Key Person can be an owner, a shareholder, or an employee.

This means that a Key Person can be any one person, that should they be unable to work, would result in a decline in profit and/or value of the business.

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