A buy-sell agreement is a contract that has become known as the prenuptial of businesses. The agreement is created between a owners, co-owners, and shareholders, establishing an exit policy in case the business needs to be sold. More specifically, the buy-sell agreement discusses the possibilities of the sale of a person's shares, including the conditions under which any shares can be sold. When partners or shareholders wish to leave a business, they might have a large portion of the a business's shares, so them selling their shares could trigger a significant change in the business. As a result, many buy-sell agreements state that if shareholders choose to sell their shares, they can only do so with another person in the business. Additionally, a buy-sell agreement could specify the stipulations where an automatic buyout is possible - such as the death of a partner or retirement - as well as the prices their shares are worth.