The Business Divorce

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Like members of any group, lawyers tend to talk shop when we get together. Lately, I’ve heard a lot of grousing from other business attorneys about “business divorces.” My colleagues are looking for solutions where there are few good options.

Business divorces are when the principals of a business (shareholders, partners or members of an LLC) can no longer function together to run the business. It might be caused by strained personal relationships, financial pressures or even bad business decisions. These situations have significant financial implications for the business owners, and are as highly emotionally charged as the breakup of a marriage.

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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.

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