To understand a “business divorce,” it helps to look at how most closely-held businesses begin: a group of close friends, colleagues, or family members share a vision of “the way things ought to be.” When everything is going smoothly, this kind of tight-knit business structure can be great: the company can make quick decisions and maximize opportunities. But when things start to go wrong, one (or more) of the tight-knit group may decide to leave the closely-held business. These “business divorces” can be as bitter, painful, and complicated as a dissolving marriage. The company has to find a way to remain viable, and the departing owners want to recoup the value they have put into the business. Because closely-held businesses rarely have a “succession plan” for departing executives, and because departing members often have no ready market sell their ownership-interests, business divorces can present hard-edged legal and business problems.
Contact Howard Law Group, PLLC for help. Its lawyers have navigated the troubled waters of business divorce as both trial lawyers and legal advisors. Our lawyers have spent decades resolving business-divorce issues of ownership, management, control, valuation, liability, and protection. We help our closely-held business clients untangle their personal, professional, and financial interests. The Howard Law Group, PLLC strives to minimize business disruption and legal costs, but we know our way around a courtroom and we protect our clients. If you need help with a business divorce or you have questions about your closely-held business obligations or rights, please contact us.
