Oftentimes, the relationship between owners of a privately-held company are more than just business. The owners may be relatives, friends, and share other connections. When things do not go as planned, whether due to changing relationships, the failure of the business, or the death of an owner, the business may need to wind up, allowing the owners to go their separate ways.
When the owners of a privately-held corporation want to go their separate ways, these shareholders face many difficult decisions. Each shareholder wants to ensure that he or she receives fair compensation in the breakup, which requires that the shareholders agree upon a method of valuation. Shareholders also need to reach agreements on the division of the assets, liabilities, and goodwill of the business. Shareholders must also determine how the breakup will affect relationships with bankers, employees, customers and vendors.
We can help.
The attorneys at Powers Taylor have advised numerous shareholders seeking to dissolve or divide a privately-held business. We carefully consider the wide range of options available, and help negotiate an outcome that is fair and equitable. When an agreement cannot be reached, we can also represent shareholders in the litigation that may be required to resolve the disputes between shareholders.