How an Information Technology & Services Business Hired a Lawyer to Draft a Buy Sell Agreement in Washington

In 2024, a business in Washington sought assistance with drafting a buy-sell agreement to solidify ownership terms for their IT services franchise, which generates significant revenue. The owner, concerned about potential disputes over the business after their passing, wanted to ensure that their partner would retain control while providing fair compensation to their children. They proposed a structure where the partner would acquire a majority stake upon the owner's death, intending to compensate the children for their shares. As a result, the client received 11 proposals from licensed lawyers, with flat fee bids ranging from $500 to $3,500, all submitted to meet the requested deadline of one week.