April 16, 2019 Articles

The Business Owner and the Premarital Agreement

Disclosure regarding a closely held business, bulletproofing the agreement, and protecting exclusive rights to the business.

By Sahmra A. Stevenson

Premarital agreements come in all shapes and sizes. A well-drafted premarital agreement will consider the particular needs and interests of the parties it is intended to protect. For a business owner considering the terms of such an agreement, there are a few issues that deserve particular attention and that counsel for the business owner must keep in mind during the negotiating and drafting phases of the agreement: (1) providing business valuations that will withstand scrutiny in the event of a challenge; (2) preserving confidential information about the business during the negotiations; (3) limiting access to business documents and information in the event of a future dispute; and (4) retaining exclusive rights of ownership of the business.

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