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If your shareholders are opposed, you certainly have an uphill battle. But the best thing is, first, to explain what the transaction is, why you are proposing it, and also at that same time, I would look to your formation documents, I would look to your buy-sell agreement, operating agreement, member-control agreement depending on – partnership agreement depending on what type of entity you have because that might set out the course that you need to take to see if you can take those actions without the consent of other owners or if you need certain consent from others.
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Minneapolis business and corporate organizations attorney, Molly Gherty, discusses what to do when shareholders don’t agree with asset purchases.