Minority Interest in a Small or Closely Held Business is Worthless

March 1, 2012 at 6:41 pm | Uncategorized | No comment | By David Tingstad

I regularly represent small business owners that share ownership interest with a small group of owners. What many of those business owners fail to recognize is that they need the cooperation of the other owners and cannot act unilaterally. When you are a minority owner in a small business you lack any authority to manage or control any aspect of the company’s business. Many owners of minority interests in a business find themselves excluded from important business decisions and cannot effectively control or recoup their investment. For this reason minority interests in small or closely held business are worthless.

To protect yourself and your small or closely held business, please contact David Tingstad or one of the other members of Beresford Booth’s Business Group.

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.

LLCs Must Be Represented By A Lawyer In Court

October 31, 2011 at 12:53 pm | Latest News | No comment | By David Tingstad

In two recent Court of Appeals decisions, two different courts have ruled that limited liability companies in Washington must be represented by an attorney. In the both the Marina Condo Association and Dutch Village Mall LLC cases Washington’s Courts of Appeal have ruled that an LLC must be represented by a lawyer in litigation and pro se representation was not allowed.

 Beresford Booth lawyers regularly represent corporations and limited liability companies in all facets of litigation. Contact one of our lawyers today for practical, creative and timely legal representation.