Contributors: Marc Pawlus & Adam Maxwell, Tedd Warden
Since April 23, when the Federal Trade Commission (FTC) announced its final rule regarding noncompete clauses, I have received numerous calls and emails asking if such clauses are no longer binding and effective.
An insured buy-sell agreement is a solution that allows your business to continue operating by providing a source of funds to compensate the deceased owner’s family for his or her share of the company, without having to liquidate company assets. The surviving owners rarely wish to become partners with a deceased owner’s heirs and the heirs rarely wish to get involved with the day-to-day operations of their loved one’s business. So, what exactly is a buy-sell agreement?
The warm climate and urban environment in the twin cities of Dallas and Fort Worth lends itself to infestations of pests, including ants, termites, mosquitoes and rodents. Recognizing the opportunity this creates, Julien’s Pest Control d/b/a Evolve Pest Control (“Evolve”) handed sales representative Brad Liston a five-year contract beginning in January 2021 to market pest control services in the greater Dallas-Fort Worth area.