The relationship among business partners can be fragile in any economic climate, but difficult conditions can exacerbate and highlight problems that might be easier to overlook in more profitable times. This webinar will discuss how to anticipate, plan for and manage the risks of the relationship among business owners to protect both the business and the personal assets of the owner. We will also explain how a dispute among owners is resolved though the legal processes and how businesses are valued in both a planning and litigation context. A business lawyer, two commercial litigators and an accountant discuss the critical issues in making or breaking business relationships.
You will learn:
- The key elements of a shareholder/partnership/operating agreement;
- The risks of not having an agreement: legal and economic ramifications;
- In the absence of an agreement, or when it is inadequate, what could be the legal consequences in terms of the claims, the litigation process and the potential remedies or outcomes a court could order;
- Using restrictive covenants to discourage break ups and their enforceability;
- Is there a role for liquidated damages in an agreement?
- Valuation methods that can be used in agreements;
- Valuation methods a court would use if confronted with a business break up.
- W. Raymond Felton, Esq., Co-Managing Partner, Chair, Corporate Department, Greenbaum, Rowe, Smith & Davis LLP
- Alan S. Naar, Esq., Partner, Vice-Chair, Litigation Department, Greenbaum, Rowe, Smith & Davis LLP
- Alan S. Pralgever, Esq., Partner, Litigation Department, Greenbaum, Rowe, Smith & Davis LLP
- Laurence G. Thoma, JD, CPA/ABV/CFF, Partner, WithumSmith+Brown