Whether you are involved in a business partnership, limited partnership, corporation, or limited liability company to operate the business, a business divorce occurs when there is serious disagreement between owners about the way to run the business. When a disagreement is so fundamental that the parties need to split up, a business divorce is necessary.
Business divorces can take many forms, including:
- partnership dissolution and accounting
- corporate dissolution and shareholder derivative actions
- limited liability company lawsuits
In each situation, owners are unable to agree on terms of separation, resolving the disagreement, or mutual buy/sell terms. Negotiation is an option, as is litigation.
The proper resolution will depend on the personalities of the individuals involved and the specific circumstances of the business. The process varies, based on the number of owners, the size of the business, and the legal entity used. The more complex the structure, the more difficult it is to navigate and untangle the disputing parties and their situation.
Like marital divorce, every Florida business divorce is unique and requires an experienced business law specialist to help the owners through their transition. Francis Carter has helped numerous businesses with their dissolution process. He can help your business, too, as a mediator or as a settlement counselor to help the owners and their creditors find an amicable, consensual resolution . Contact him today at 305-776-9143 to schedule a consultation.