The Business Divorce

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Nobody plans to get divorced when they get married, but it happens. No business partners plan to fued when they start-up, but that happens too. Without a buy-sell agreement, shareholders agreement, operating agreement or partnership agreement, there is very little a business attorney can do under North Carolina corporate law to force out one shareholder, member or partner at the request of another. A strong business will have an exit plan or strategy in place at the beginning to preserve the corporate assets if the owners disagree down the road.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Donna Ray Chmura, Sands Anderson PC | Attorney Advertising

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