You have just been approached with a tempting offer from an industry leader to buyout your company. The proposal made mention of many promising benefits that could propel you into an even more successful career path. However, you are also aware that this fortunate opportunity brings with it a unique set of risks. At Dunlap & Seeger, we have helped many Minnesota companies to acquire needed legal protection as they continue to grow and develop their organization.
According to Monster, before you get too excited about the advantages of the proposal you have been given, cautiously weigh your options and read into the details of the offer before making any major decisions. Here are some of the important aspects that you should consider:
- Your benefits: Will you be able to continue to receive benefits? Does the arrangement of the buyout propose a lump sum payment or smaller payments made out over the course of time?
- Your career: While a buyout may open the door to incredible career growth, in certain circumstances, you may find yourself struggling to find employment. If you desire to continue working, be sure you understand what your position will be within the organization.
- Your exit: Never settle for less than you are worth. Once a proposal has been made, consider negotiating your end of the deal to be sure you are compensated accordingly.
When you are aware of the details that indicate whether or not a buyout will be beneficial for you in the long run, you can make a smarter decision from the start. For more information about how a buyout works, visit our web page.