Episode One: Corporate Divorce – Preventing and Managing the Break-Up of a Business Partnership
Episode 21 | Where There's A Will, There's A Way
Everything You Ever Wanted to Know About Buy-Sell Agreements: A Conversation With Expert and Author Paul Hood
Buy-Sell Agreements and Their Place in an Asset Protection Plan
Family-owned businesses can face challenges around share ownership and potential sales. Proper planning, including documenting board membership, setting share transfer rules and establishing a framework for sales, can help...more
For many family-owned businesses, the future is built on relationships, trust, and shared history. But when it comes to succession planning, even the most tightly knit families often delay the conversation. As corporate...more
Many restaurant disputes boil down to one question: “Who gets to decide?” Is it the chef? The money partner? The majority owner? The answer should be in your governance structure — not in the middle of a heated argument....more
What is business succession planning, and why is this an important and essential component of forming any new entity or protecting an existing business interest? Business succession planning protects everything you’re...more
Welcome to our 18th annual edition of the Top 10 business divorce cases featured on this blog over the past year. This year’s selections include a split decision by the New York Court of Appeals in a fascinating case...more
An operating agreement (for an LLC) or shareholders’ agreement (for a corporation) is where you and your partners decide how the relationship really works. Without it, New York’s default rules step in — and those rules...more
As the year comes to a close and businesses prepare to wrap up 2025, there’s one critical task that should not be overlooked — a comprehensive legal check-up. Just as we schedule annual physicals to safeguard our personal...more
If you’re a dental practice owner considering a sale to a Dental Support Organization (DSO), you’re not alone. These transactions are becoming increasingly common—and increasingly complex. While the promise of liquidity,...more
Closely held businesses routinely use life insurance to fund buy-sell obligations when an owner dies. The logic is simple: the company or surviving owners need liquidity to effect redemptions or repurchases, and life...more
In the lifecycle of a closely held company—whether a limited liability company, a small corporation, or a joint-venture partnership—there are critical transitions that expose a business and its owners to considerable...more
Why should every business owner consider or revisit business succession planning at this time of year? The simple answer: Business succession planning protects owner and company alike. It protects all of the hard work and...more
For generations, Wisconsin cranberry farms, like potato farms, have been more than businesses—they’ve been legacies. Passed down through families, these farms are rooted in tradition, hard work, and deep community ties. But...more
Balancing numbers and relationships when business and family intersect. Family-owned businesses occupy a unique and vital space in the economy. They combine entrepreneurial drive with deep personal commitment and long-term...more
For restaurant owners, divorce isn’t just about dividing assets—it’s about protecting the legacy you’ve built and ensuring the future of your business remains secure. Amidst the emotional and financial challenges of a...more
Running a restaurant in New York City is demanding, but planning for the future is just as crucial as daily operations. Without a solid estate plan, a restaurant owner risks legal disputes, unnecessary taxes, and business...more
For restaurant owners, business succession planning is crucial to ensuring a smooth transition of ownership while protecting the legacy of their establishment. Whether the goal is to pass the restaurant to family, sell to a...more
Just like personal relationships, business partnerships can sometimes come to an end. For restaurant owners, parting ways with a business partner—often referred to as a business divorce—can be an emotional and financially...more
Many entrepreneurs achieve the dream: They build a profitable, established business from the ground up. Yet they often find themselves trapped, having created not a sellable asset, but an expensive job. If you are the soul of...more
As attorneys, we are trained to anticipate risk and protect our clients from uncertainty. Yet many of us fail to apply that same diligence to our own practices. Succession planning is not just a professional courtesy—it’s a...more
Divorce can be one of the most challenging experiences a person faces—emotionally, personally, and financially. For restaurant owners, the complications extend beyond personal matters and into the heart of the business...more
Owning a restaurant with partners can be rewarding, but it also comes with challenges—especially when one partner wants to leave the business. A well-structured buyout agreement is essential to ensure a smooth transition and...more
In the high-pressure world of restaurant ownership, partnerships can be as delicate as they are rewarding. When business owners don’t plan for the unexpected—whether that’s a partner’s departure, illness, or...more
More than two centuries before Hamilton became Broadway’s most successful musical, Alexander Hamilton and his nemesis, Aaron Burr (sir), chose to resolve their disputes by dueling at dawn in Weehawken, New Jersey. This...more
Dans le marché de l’immobilier commercial actuel, les parties ont de plus en plus besoin de souplesse quand vient le temps de procéder au transfert de leurs participations dans une coentreprise. Le fait d’avoir rédigé des...more
In today’s commercial real estate market, parties increasingly require flexibility when transferring their joint venture interests. Well-crafted transfer provisions can be critical to protecting liquidity, aligning diverging...more