5 Steps To Avoid Business Divorce

October 31, 2011 at 12:55 pm | Latest News | No comment | By David Tingstad

A common failure of many businesses is the “business divorce”. When shareholders, partners or members can no longer get along, the business fails. In an effort to avoid a “business divorce” five steps should be followed: 1) establish the expectations of the parties; 2) measure performance; 3) identify the consequences of failure; 4) establish dispute resolution procedures in advance of the “divorce”; and 5) establish outstanding communication between the owners.

 Beresford Booth lawyers represent small to mid-size businesses and routinely help our clients work through the steps above to avoid business failure. Contact us today.