Business Partner Buyouts
So, you’ve gotten your business up and running. Congratulations! For most, getting started is the hardest part. But now that you’ve turned your dreams into a legitimate moneymaking operation, it’s important to make sound business decisions to keep your company growing and thriving.
If you’re like many people, you probably went into business with a partner for a variety of reasons. And while it’s easy to believe that your partnership will always be as strong as it was on day one, all too often that’s not the case. Like any relationship, partnerships hit snags. Sometimes they’re minor setbacks, but other times they’re serious roadblocks that interfere with the success of your company.
While it may not be pleasant, sometimes the best decision for increasing the growth potential of your business is to buy out a partner who no longer shares your same goals and visions for the future. Partnership differences and disputes can happen for any number of reasons. Sometimes they involve different ideas about how the company should be run. Other times it’s a matter of differing levels of commitment to the business or an unforeseen shift in life priorities. Whatever the reason may be, when differences become insurmountable, it’s time to consider whether you should buy out your partner in order to save the business.
At Gouchev Law, we understand that ending a partnership is not a decision you’re making lightly. We also know that emotions may be running high, so we’re here to guide you through the logistics and help you focus on what’s right for your business.
For starters, we’ll work with you to make sure that a buyout is your best option, and that you’ve exhausted all other reasonable possibilities. If you have a partnership agreement in place, it’s important to make sure that you follow its terms before going forward.
One of the biggest things to try to avoid in a partner buyout is a major fight over valuation. There’s no exact science to valuing a business, and you might each have different opinions on what things are worth. Often times it’s helpful to get a professional outside valuation to assist with the process. Our team will help you and your partner settle on a number in the most amicable way possible.
Once you’ve decided what you need to pay, the next step is figuring out how you’ll pay it. We’re here to help with that, too. Chances are you don’t have enough cash lying around, so our team will work with you to determine what financing options are available to you.
At Gouchev Law, we understand that partnership buyouts can seem overwhelming. That’s why we’re here to make sure the process goes as smoothly as possible and to tie up all the loose ends. We know the ins and outs of the legal requirements involved in a change of business ownership, and we’ll guide you through them. It’s our job to handle the technicalities, so you can focus on the future of the business and growing your brand.
How we helped Kunal
“Gouchev Law’s attorneys are not only extremely knowledgeable and generous with their time, they are also a totally different kind of lawyers. They come up with creative, flexible solutions. Unlike so many others I’ve worked with, Gouchev Law’s team sees different ways of doing things and that goes a long way for our business.”
Kunal Sethi, Founder of S Cap Investment
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Our growing company clients of all sizes seek commercial stability and growth. Increased regulation and competition, and the globalization of doing business, create the need for tailored legal counsel in the day-to-day operations of a growing business. New corporate governance regulations have brought about significant change in how business is conducted, and technology continues to accelerate the pace of transactions and the need for information.
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