Security Sales & Integration’s “Legal Briefing” columnist Ken Kirschenbaum has been a recognized counsel to the alarm industry for 35 years and is principal of Kirschenbaum & Kirschenbaum, P.C. His team of attorneys, which includes daughter Jennifer, specialize in transactional, defense litigation, regulatory compliance and collection matters.
Some buy-sell agreements are worded with such legalese it is sometimes a daunting task to figure out what reps and warranties have been made and what could possibly go wrong.
What profit margin should you be looking or hoping for? It should be enough to keep you in business with a personal compensation package you are satisfied with.
The shareholder agreement is usually an agreement made among friends, relatives and people who are talking directly to each other rather than through their respective attorneys.
As a business owner, everything you have to spend money on now costs more. If you don’t raise your prices, you won’t keep pace or maintain your profit margin.
Indemnity exposes you to all your company assets, unless you’re smart enough to have created a separate entity to conduct the alarm business and you observe the necessary corporate procedures.