The end of a business relationship is no less painful or emotional than the end of a social relationship. Many entrepreneurs in the glow of start-up fervor do not anticipate their management may become dysfunctional or the founders’ visions will diverge. Failure to consider an exit plan at formation can destroy a business, but good early planning can provide an orderly exit when the relationship falls apart.
The most common events to trigger the buyout of a shareholder, member or partner in a business are: death, disability, deadlock/expulsion/minority shareholder oppression, voluntary withdrawal (retirement or wanting to pursue other options), termination of employment, bankruptcy/insolvency, family disputes and divorce where the spouse will not relinquish rights to the company.
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