How a Fitness Business Hired a Lawyer to Review a Buyout Agreement in Washington

In 2022, a small business in Washington sought assistance with reviewing a buyout agreement. The majority owner aimed to acquire the remaining 20% of the fitness facility from their partner, intending to gain full ownership of the LLC and all associated rights and intellectual properties developed over the past 13 years. The existing operating agreement was straightforward but lacked specific clauses necessary for the unique aspects of the transaction. As a result, the client received proposals from seven licensed lawyers, with flat fee bids ranging from $1 to $1,260, all submitted to meet the requested deadline of one week.