In closely-held businesses in New Jersey with multiple owners, it seems fairly obvious that the more co-owners you can recruit to your side in a business divorce litigation, the better. You don’t need a lawyer to tell you that. However, what is not so obvious is the possibility of recruiting co-owners to your side once the litigation has commenced.
Litigation – especially business divorce litigation – can be quite divisive. » Read More
Can You Buy Out a Majority Business Partner?
A minority shareholder will most often seek a buyout as a judicial remedy. However, in some instances, the minority shareholder may want to be the purchaser instead of the seller. Although this is never easy, it is possible, depending upon the particular facts.
If you have a chance of being the purchaser of the majority’s interest, by definition you have been successful in demonstrating that the majority shareholders engaged in wrongful conduct. » Read More
A business dispute with your co-owner can often be resolved in litigation. But the question remains – if you sued your business partner because of improper action on his part, what remedy would you seek?
Many people assume that, when you sue your business partner, it is like any other case in which you are suing for damages. For example, I have been approached by numerous prospective clients seeking to sue a business partner for damages after finding out that he was being – to put it charitably-“overly generous” in giving himself corporate benefits (cars, bonuses and the like). » Read More