Business partnerships end for a wide number of reasons. Some are friendly, amicable, and in the best interest of both parties--while still others can reach a bitter, nasty end.
Whatever the reason is, if you want to keep your business, but your partner has to go, here's everything you need to know to successfully buy out your business partner. . .
Even if your relationship with your partner is amicable, and even if you are working from a clearly outlined partnership agreement, it is in everyone's best interest to hire an experienced acquisitions attorney to negotiate your buyout.
Working with an acquisitions attorney will help you ensure that your buyout conforms correctly to state and local laws, appropriately honors the initial partnership agreement, and that all parties understand and agree to the terms. The cost of hiring a professional is worth avoiding any headaches or conflict down the line over buyout terms that were mishandled or unclear.Link to full article here.