Small Business Law and Litigation Glossary Terms

Shareholder Buyout Agreements

Legal documents that formally document how shareholders in a corporation may sell or transfer their shares. Shareholder buyout agreements are important for all corporations but can be vitally important to the health of a small corporation, where a shareholder’s death or desire to sell their shares can have a big impact on the leadership and longevity of the corporation.

Sole Proprietorship

A one-person business, not registered with the state as a corporation or LLC, in which one person owns all the assets of the business and is responsible for all decisions related to the operation of the business.

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