Chicago Business Disputes
The technical term is usually “dispute,” shareholder or partner depending on the type of organization involved. Such a dispute among stockholders or partners can take many forms, each with its own name. Squeeze out, freeze out, freeze buy out, minority oppression–a phrase we like to use to sum all of it up and avoid getting bogged down in the possible variations is “business divorce.” Just like a marital divorce, an existing contract or agreement is coming to an end. And just like it’s matrimonial counterpart, a business divorce can get very messy.
The analogy holds pretty well for the whole span. When partnership or corporation is first started, often no one wants to think about the possible future problems. Talking about the venture coming to an end seems to sour the enthusiasm, contrary to the entrepreneurial spirit. Fact is, with a little preparation at the outset, any future disputes can be made far simpler. No plan is flawless, but plans like buy-sell agreements can lay the groundwork for a dispute ahead of time and because this plan is made in a time when cooler heads prevail, as opposed to in the midst of a possibly heated dispute, the whole process can be much simpler. With a proper plan put in place by experienced counsel, a distracting and resource draining dispute can be reduced to something far more civil.
If and when a dispute does arise, of course, preparation may not be enough. In that case you need experienced representation to make sure your rights are protected and your interests are secure. Whether you are the majority or the minority party in the dispute, whether the entity in question is a partnership or a close held corporation or a publicly traded company, you need someone who knows business divorce backwards and forwards on your side.
Horowitz Law Offices has represented numerous partners and shareholders to litigate and resolve their difficult disputes. You are welcome to contact us at (312) 787-5533 or firstname.lastname@example.org