How a Recreational Facilities & Services Business Hired a Lawyer to Draft a Buyout Agreement in Connecticut

In 2023, a business operating in Connecticut sought assistance with drafting a buyout agreement as they planned to separate from a co-owner. The client and their former significant other each held 50% ownership in two recreational facilities, a CrossFit gym and a gymnastics gym. Their primary goal was to achieve a fair and equitable split of the businesses' values, allowing both parties to move forward smoothly, particularly given their unique circumstances regarding tax filings and the ages of the businesses. As a result, the client received seven proposals from qualified lawyers, with flat fee bids ranging from $700 to $5,000. Each proposal was submitted to ensure completion within the client's requested deadline of one week.