If you own a closely held company, it is important to provide for succession. What if something were to happen to you? How would your business continue? Certainly one thing to consider is what is called a “buy-sell agreement”. They are used to give individual shareholders liquidity in certain events and to give shareholders as a group the ability to restrict the resale of shares, thereby controlling who becomes an owner of the corporation. As with voting agreements and shareholder agreements, a buy-sell agreement is binding only on the parties that sign it.