Business Divorce: Planning for the Exit of a Private Company Owner
Anticipating and Addressing Issues of Asset Division, Compensation, Competition and More
Recording of a 90-minute CLE webinar/teleconference with Q&A
Conducted on Wednesday, July 25, 2012
Recorded event now available
This CLE webinar will provide business counsel with a roadmap for navigating the thorny issues that arise when a private entity faces a business divorce. The panel will explain how a well-constructed exit plan can help separating owners minimize adverse financial consequences and owner disputes.
Description
When forming a new business, owners rarely consider what will happen if they later become adversaries. However, many private companies will face an ownership crisis that requires one or more owners to exit the business. These "business divorces" can have significant legal and financial implications for owners.
A well-constructed exit plan included in the organizational transactions and governing documents at start-up can help lessen the financial impact when a business divorce occurs. The plan should address asset division, owner compensation, and competition restrictions, among other issues.
Business counsel is best positioned to help owners create a viable exit strategy at start-up. Failing to do so could result in reputational damage to the attorney and firm, malpractice threats, or a report to the bar for ethical violations when disputes between the owners ultimately arise.
Listen as our authoritative panel of attorneys explains best practices for handling business divorces. The panel will discuss how an effective exit plan can help preserve the value of the company and its assets, and also minimize the risk of business dissolution or litigation.
Outline
- Reasons for exit
- Advance planning
- Legal representation
- Initiating an owner exit
- Form of owner exit
- Purchase price and terms
- Ancillary issues
Benefits
The panel will review these and other key questions:
- What is a business divorce?
- What legal and business issues commonly arise when one or more owners decide to exit a private company?
- What are the components of a well-constructed exit plan and some best practices for negotiating and drafting such a plan?
Faculty
Gregory F. Monday, Partner
Foley & Lardner, Madison, Wis.
He counsels companies and their owners on governance, operations, and ownership issues, including entity formation/organization, raising capital, securities laws, asset protection, business growth, leadership/ownership succession, acquisition, and exit planning. He stresses long-term planning and contingency planning to help owners protect and realize the full value of their businesses.
Donna Berkelhammer, Counsel
Sands Anderson, Raleigh, N.C.
The heart of her practice involves counseling business leaders through transactions during the entire life of the company, including formation; growth; sale, merger, or winding-up; and business succession planning. She enjoys working with entrepreneurs to bring a business concept to the marketplace, as well as guiding established companies through critical negotiations.
Kenneth R. Appleby, Partner
Foley & Lardner, Boston
He is a member of the firm’s Taxation, Estates & Trusts, and Private Equity & Venture Capital Practices. He has a broad tax practice which encompasses the areas of federal, state and international taxation. His practice also includes sophisticated estate planning for high net worth individuals and succession planning for closely held businesses.
Ordering
Online CLE - Audio Recording
Includes streaming audio of full program plus handouts (available 24 hours after live program).
CLE:
Pre-approved for participatory or non-traditional/alternate format credit in: CA, HI*, NY*, WV*.
Pre-approved for self-study credit in: AK, AZ, MO, MT, TX*, VT, WA.
Upon request, also available in: CO, CT*, FL, GA, ID, KY, LA*, ME, NC, ND, NE, NH, NM, NV, OR*, SC, TN, UT, WI, WY. If you are applying for credit in one of these states, make sure to select those states when placing your order.
(*Indicates that Strafford must report attendance.)
Online CLE Audio $297.00
Available 24 hours after the live event
Recorded Event
Includes full event recording plus handouts (available after live seminar).
CLE: Pre-approved for self-study credit in: AK, AZ, CA, CT, HI, MO, MT, NY, TX*, VT, WA, WV. Upon request, self-study credit is also available in: CO, FL, GA, ID*, KY, ME, ND, NE, NH, NM, NV, OR, UT, WI, WY. If you are applying for self-study credit in one of these states, contact Strafford CLE at 1-800-926-7926 ext. 35 or CLE@straffordpub.com. (*Indicates that Strafford needs to process the CLE — see below to purchase this option.)
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Available three business days after the live event
DVD (Slide Presentation with Audio) $297.00
plus $9.45 S&H
Available ten business days after the live event
MP3 Download (Audio with Slide PDFs) $297.00
Available 24 hours after the live event
CD (Audio with Slide PDFs) $297.00
plus $9.45 S&H
Available ten business days after the live event
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CLE Credit
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Customer Reviews
The program provided good info apparently based on solid experience.
Edward. J. Dunham, Jr.
Kleinbard Bell & Brecker
The webinar was very straightforward.
Michael Kossow
Airgas
I found it helpful to hear the information and perspectives of all the presenters.
Mary Grace Folwell
Ballard Spahr
The presenter was very articulate and had an excellent command of the topic and provided very thorough handouts.
Theresa Woodruff
Mercury Marine
I liked the practicality and thoroughness of the presentation and the handouts.
Barry Jasilli
CVS Caremark
Corporate Law Advisory Board
Partner
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General Counsel
Assurance America
Partner
Mayer Brown
Matthew A. Karlyn
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Cooley
Kathleen Mayton
General Counsel
Rollins
Partner
K&L Gates
Partner
Kaye Scholer
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