Leaving Your Partner
Posted on 13th November 2019 at 22:43
It is amazing how little attention business owners pay to their relationships with their co-workers, directors and fellow shareholders.
They spend more time awake with these people than they do with their partner in life and also entrust them with their entire financial future but very often have little or no agreement with them as to what might happen if things go wrong.
Over the last year, we have acted for a number of business owners who wish either to sell or to retire and have been stymied in that desire by their fellow shareholders.
Would you as a business owner, want your fellow shareholders spouse or partner in life, as a shareholder in your company?
Would you like, if you and your fellow shareholders fell out for any reason, that there was a mechanism by which this disagreement could be resolved simply and cheaply?
At Marcus Lynch Solicitors, we provide this type of advice to all company owners and draw up Shareholders Agreements for companies, that enable those companies to successfully survive when disputes arise between the owners.
The cost of a Shareholder’s Agreement is far outweighed by the likely costs in the event that disputes arise.
This is definitely one case where an ounce of prevention is worth a pound of cure.
If you would like to know more and would like to protect your business for your family, please contact Hugh O’Neill at our offices who will be delighted to help you.
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