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Splitting From a Business Partner Without a Shareholder’s Agreement
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Thinking about splitting from a business partner without a shareholder’s agreement? Watch this video, then contact our Media PA lawyers to get started.Do you need legal help?
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I highly Recommend Gibson & Perkins. I have used their services for approximately 6 years now and been through a few cases together with very positive outcomes. Personally, I have used Paul Fellman and Walter Timby on those occasions. Both, as a team & separately these Attorneys were wonderful to work with and easily accessible to reach if I had any questions. Professionalism is the word that comes to mind to describe the firm, as a whole. Always completely prepared for any surprises that may pop up during a trial. They were well versed on all pertinent info pertaining to each case. As I client, I always felt I was an integral part of the team, not an after-thought, that had to be brought up to speed a half hour before the trial started. I could not recommend this firm and Mr. Fellman and Mr. Timby any higher.Very Satisfied
I hired Paul Fellman after speeking to several different lawyers from different law firms because he was the most sincere. Paul did an excellent job on my landlord tenant issue I had on my rental property. He was there for me from the beginning to the end of the whole ordeal. I was very satisfied and I highly recommend him and his firm.
Thinking about splitting from a business partner without a shareholder’s agreement? Watch this video, then contact our Media PA lawyers to get started.
Question:
How do I handle splitting from my business partner without a shareholder’s agreement in Delaware County?
Answer:
Splitting from your business is much more difficult when you don’t have an agreement in place for this contingency. In such a case, you’ll need to enter a negotiation with your partner to determine the value of the business.
The best-case scenario is if you both agree on the value of the business. Then you can bypass the need to arrive at a number through negotiation or a third-party assessment. You’ll be able to simply move forward to selling assets, accepting as an asset your share, giving a credit toward to purchase price or the dissolution fund. You can proceed to dividing up assets in whichever way suits your needs, depending on who wants to leave, who wants to stay, or if you’re both getting out.
Basically, the goal is to arrive at the value of the assets and pay off the liabilities because you do not want anybody coming back that is owed money. When you voluntarily reach an agreement as to how you’re going to value the pot, all you have left to do is divide it up and move forward.
Do you or a loved one own a business and have questions about splitting from a business partner without a shareholder’s agreement? Contact our experienced Media PA Business Law Attorneys for a free consultation.
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“I highly Recommend Gibson & Perkins. I have used their services for approximately 6 years now and been through a few cases together with very positive outcomes.”
– Maria Twining
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