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
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
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
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
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
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
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
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
Running a restaurant with business partners can be rewarding, but even the strongest partnerships face moments of disagreement. When those disagreements escalate into a deadlock—where neither party can move forward—it can...more
In this episode, Kimberly Kamkar is joined by corporate law partners Patrick Richard, Anna Tang and Doug Schwartz to explore the complexities of business "break-ups." They discuss essential practices for future planning, the...more
When a married couple enters into a divorce proceeding, they generally expect to end things in a final decree that fully divides all of their marital assets. But when they fully own or have a large interest in a closely held,...more
One of the thorniest issues private company owners and minority investors may be required to confront in going through a business divorce is determining the value of the minority interest being purchased. It is not unusual...more
Just like any kind of relationship, not all business partnerships are built to stand the test of time. They can sour just as easily as a romantic partnership or friendship as vision and long-term goals diverge, financial...more
When longtime business partners in private companies go through a business divorce, emotions often run high. One or both of the partners may be seeking a “revenge premium” in the business divorce process based on their...more
Spring is soon upon us. March Madness is at our doorstep. The Formula 1 season is underway. Baseball season will be in full swing shortly. And my allergies are already in bloom....more
During Valentine’s Day month, we are taking a look at 50-50 owned private businesses. Forming a co-owned company may sound like a good idea on paper because the two partners are close friends or family members who are making...more
Hindsight can be a wonderful thing, especially if hard-earned lessons are adopted by others who are willing to learn from past mistakes. When private company owners and investors share with me some of the wisdom they have...more
Disagreements are common between business partners in private companies, but most do not lead to a partner exit. When partner conflicts become severe enough to warrant a business divorce, however, majority owners and minority...more