It’s a sad fact of business litigation life that the most expensive, distracting and contentious cases are those involving disputes among the owners of a business. But aren’t we supposed to be on the same team? Yes. . . Until your aren’t.
Just like marriages that fall apart, business partnerships can also fall apart. When they do, if the partners are not able to quickly and efficiently agree upon a a transition, they are in for a messy and expensive ride.
What can be done to avoid this? An ounce of prevention is worth a pound of cure. Pick your partners wisely. Is someone I can see spending the rest of my life with? If so, then you should still do some planning for the future and negotiate terms for an orderly transition in the event that your business marriage ends in divorce.