TRY ME!
Business Partnership Dispute Resolution
Summary
Forced buyouts in a 50/50 business partnership can be complex without clear procedures in the operating agreement. Consider legal grounds, financial implications, and potential disputes. Consult a lawyer for guidance on restructuring management or protecting your interests. Mediation and documentation of incidents may also be beneficial.Full Conversation
Stephanie
Hi Stephanie! It's great to help you with your legal issue. Could you tell me a bit more about your situation so I can provide the best information?
I own a */* business and it is not working out. She has stated she wants to retire and I have encouraged that if that is what she wants to do. I have also encouraged her to let our children learn the business. My daughter works at *.oo an hour and has not admin duties. she is just an employee and learning. She tried to sneak her son in as the COO (which is what i do) and pay him a salary of 80k a year without discussing with me. WE had a discussion privately about this and she refused to talk. She brought her son in to this private conversation and he and my husband got in an altercation because the son verbally abused me and grabbed him. Debbie has not worked since and has been very hostile. I have found out a lot she is doing behind my back and do not trust her.
It sounds like a challenging situation, Stephanie. Here are a few points you might consider:
- Review your business partnership agreement for dispute resolution clauses.
- Consider mediation to resolve conflicts with your business partner.
- Document all incidents and communications for future reference.
- Consult a lawyer about potential legal actions to protect your interests.
Would you like more information on any of these points?
- Review your business partnership agreement for dispute resolution clauses.
- Consider mediation to resolve conflicts with your business partner.
- Document all incidents and communications for future reference.
- Consult a lawyer about potential legal actions to protect your interests.
Would you like more information on any of these points?
I do not feel we can work together. She has stated she will not be "bought out" Our operating agreement is very generic and does list that our children are our entitled to *% shares at our death or retirement. However, Debbie and I are the only * members. What does this mean for me if I do not trust her or her child.
It seems like you're facing a complex situation. Here are a few points to consider regarding your operating agreement and trust issues:
- Operating Agreement: Review it for clauses about member resignation, retirement, or buyout options.
- Children's Shares: Consider how shares are transferred or managed upon retirement.
- Trust and Management: Explore options to restructure management or ownership if trust issues persist.
Would you like more information on these areas?
- Operating Agreement: Review it for clauses about member resignation, retirement, or buyout options.
- Children's Shares: Consider how shares are transferred or managed upon retirement.
- Trust and Management: Explore options to restructure management or ownership if trust issues persist.
Would you like more information on these areas?
Trust and Management issues
Case Rating: *
Here are some steps you could consider regarding trust and management issues:
- Restructure Management: Explore options to modify roles or management structures within the business.
- Legal Consultation: Speak with a lawyer about potential actions for restructuring or protecting your interests.
- Documentation: Keep detailed records of all interactions and agreements.
Would you like more detailed information on any of these points?
Here are some steps you could consider regarding trust and management issues:
- Restructure Management: Explore options to modify roles or management structures within the business.
- Legal Consultation: Speak with a lawyer about potential actions for restructuring or protecting your interests.
- Documentation: Keep detailed records of all interactions and agreements.
Would you like more detailed information on any of these points?
Are forced buyouts easy
Case Rating: *
Forced buyouts can be complex, especially if your operating agreement doesn't specify procedures for buyouts or member resignation. Key factors include:
- Legal grounds for forcing a buyout.
- Financial implications and valuation.
- Potential for legal disputes.
Would you like to be connected to local lawyers who can better assist you with your case?
Forced buyouts can be complex, especially if your operating agreement doesn't specify procedures for buyouts or member resignation. Key factors include:
- Legal grounds for forcing a buyout.
- Financial implications and valuation.
- Potential for legal disputes.
Would you like to be connected to local lawyers who can better assist you with your case?
Start a new chat