Business Transaction & Governance | Legacy Law Firm, Sioux Falls

Sioux Falls Business Attorneys

Providing You the Tools to Focus on Business

Businesses need to get things done, whether it’s getting a deal done, handling an employee matter, or taking care of one of their customers. We understand that things need to move quickly, and objectives need to be accomplished. Our Sioux Falls business attorneys strive to be an outside business partner who gets things done. We will measure twice and cut once, and we will make sure it is done on time. We understand that clients rely on us to protect their interests, find solutions not problems, and find opportunities and not just the pitfalls. We also understand the modern needs of businesses, including the need to do more with less. We get it. After all, we are a small business ourselves.

Our Approach

Our Sioux Falls contract attorneys see things that most business owners can’t because we are outside looking in, and we are viewing things through different lenses. While routine contracts, privacy policies, transactions, or employee matters may not seem like there is high dollar value at stake, and maybe individually there might not be, but in the aggregate there could be and often is. Or if something goes wrong, then life as you knew it can change drastically and the value you once had in your business can be lost, or worse yet, your personal assets could be lost. It’s not just a transaction or governance, it is your business, and it matters.

Whether you are looking for a contract lawyer, corporate attorney, or an experienced business attorney, our Sioux Falls business law firm has you covered. Our business lawyers have helped businesses throughout the state of South Dakota, Iowa, Minnesota, Nebraska and North Dakota. Even if you are looking for a business attorney near me, we are happy to offer virtual meetings and phone calls for those who are a driving distance away (or even if you are just down the street)!

How Can Our Sioux Falls Business Lawyers at Legacy Law Firm Help?

We can create a number of important documents that can be essential to successful operations and asset protection. Having successful business-to-business interactions are paramount to any business’ operations. Contractual terms and other legal agreements must be carefully drafted to protect your business.

Shareholder agreements: Shareholder agreements govern how a corporation is overseen and operated by stockholders. A shareholder agreement should address financing, management, dividends, dispute resolution, transfer restrictions, protections for minority shareholders, voting requirements, and other governing mechanisms.
Buy-Sell Agreements: If a business has more than one owner, you need a buy-sell agreement or, at minimum, have buy-sell provisions under your governing documents. A buy-sell agreement is critical at protecting each owner. A good buy-sell agreement will cover what happens if you or a business partner want to retire, sell and move on, become disabled or in a worst-case scenario, die, and establishes a fair value price. A buy-sell agreement establishes a clear roadmap of how to handle these events, and sets forth financing options. Often buy-sell agreements may utilize life insurance to help the surviving owner buy out the owner who died. The proceeds of the sale would then go to the deceased owner’s family. It is never too early to get a buy-sell agreement in place and you should establish a buy-sell agreement as early as you can.
Business Continuation Planning: What happens to your business if you were to suddenly pass away, become incapacitated or have a health issue that makes you unavailable to operate your business? Business continuation and contingency planning allows you to proactively prepare for every contingency and establish mechanisms for who will assume key leadership roles and how the business will operate without you. Incentives to keep key employees around and governing provisions that allow for greater transparency are often needed if a business owner can no longer be working in the business. Our Sioux Falls business lawyers will help you understand the best practices and options available to keep your business going.