Two or three people build a business together. Nobody documents what happens if one of them dies or becomes unable to work.
When it happens, the survivors want to buy the shares and keep control. The family wants to be paid out and move on. Both want the same outcome — and yet there is no mechanism to achieve it, no agreed price, and often no money.
So the family stays on the register as shareholders in a company they cannot influence and cannot sell, and the survivors keep building value for people who are not contributing to it. Relationships that survived the death do not survive the following two years.
Buy-Sell and Cross-Option Agreement
A buy-sell or cross-option arrangement gives each shareholder an option to buy the others' shares, and each shareholder's estate a corresponding option to require purchase, on defined trigger events — death, critical illness, permanent incapacity or long-term departure. It fixes the valuation basis, the exercise procedure and the payment terms in advance, and is normally paired with funding arranged through your financial adviser.
Your Vision, Backed by the Right Legal Support
You build the business. We help you protect it.
Picture a trigger event where both sides simply exercise. The survivors take the shares and keep control of the business. The family receives a fair, pre-agreed sum without having to negotiate for it. Nobody ends up as an unwilling business partner.
Who this service is for
This Is For You If…
Companies with two or more working shareholders
Partners in professional and owner-managed businesses
Joint venture parties wanting a route out on death or incapacity
Shareholders who would be unable to fund a buy-out from cash flow
Families wanting certainty that a stake can be converted to value
Get Started
What we will do for you
This is what we will do for you
Advise on whether a cross-option, company buy-back or compulsory transfer suits your structure
Define the trigger events precisely, including illness and incapacity where wanted
Fix the valuation basis so the price can be calculated rather than argued
Draft the option agreement with exercise mechanics, notice and completion terms
Align it with the constitution and shareholders agreement, and with your funding arrangements
What’s Included
What’s Included in our service for you
Advice on the appropriate structure for your shareholding
Trigger events defined including death, illness and incapacity
Valuation basis and calculation mechanism
Cross-option or buy-sell agreement with exercise and completion terms
Alignment with the constitution, shareholders agreement and funding arrangements
Get Started
Why Choose Legal That Works?
Why Choose Us To Assist You?
Digital-first
No office visit required—review and sign online
Transparent fees
Fixed price, no billing surprises
Deep experience
Various contracts across industries
Accessible
Our client portal keeps you informed
Get Started
We've Helped
You Need To Act Now
Important: Limited Slots
These arrangements can only be put in place while every shareholder is willing and able to sign. After a trigger event, the same terms would have to be negotiated with an estate.
Get Started
Nothing to Lose. Everything to Protect.
No Surprises. No Guesswork. Just Legal That Works.
Before anything starts, we speak with you to understand your business and make sure the service is the right fit. If it is not, we will say so upfront. No pressure. No wasted time. We only take on matters we are confident we can deliver with quality. That is why business owners trust us to get it right.
Get Started
Frequently Asked Questions
What is Legal That Works?
Legal That Works is a business and organisation oriented legal service designed by Messrs Akmal Saufi & Co (the firm that has brought the widely known legal consumer services brand ASCOLAW). We specifically help business owners and organisation leadership to navigate Malaysia’s legal terrain to achieve their commercial goal.
What if I’m not sure what legal service I need?
No problem. Most business owners aren’t legal experts! Just reach out. Our team will guide you to the right service or help you understand your options—without jargon or upselling.
What is a cross-option?
Reciprocal options: the surviving shareholders have a call option to buy, and the deceased's estate has a put option to sell. Because neither side is bound until an option is exercised, the arrangement generally works better than a straight binding sale — including for tax treatment, which your tax adviser should confirm for your situation.
How should the shares be valued?
By a mechanism rather than a fixed figure, since a number agreed today will be wrong in five years. Common bases include an independent valuation, an agreed multiple, or a formula reviewed periodically. We will set out the trade-offs.
Where does the money come from?
Usually from insurance arranged for the purpose, held so that the funds are available when the option is exercised. We document the legal side and work alongside your financial adviser, who arranges the cover itself.
Can it cover illness rather than only death?
Yes. Critical illness and permanent incapacity are commonly included, and for many businesses those are the more likely triggers.
Does this replace a shareholders agreement?
No. It sits alongside one and the two must be consistent. Where they conflict, you have created a dispute rather than resolved one.
Who will be helping me?
All our services are delivered by our licensed lawyers under the Malaysian Bar with proven experience across industries. You’ll work with a real legal team, not chatbots or generic customer support.
