Lee R. Schroeder is an Ohio licensed attorney with Schroeder Law LLC in Ottawa. He limits his practice to business, real estate, estate planning and agriculture issues in northwest Ohio. He can be reached at [email protected] or at (419) 523-5523. This article is not intended to serve as legal advice, and specific advice should be sought from the licensed attorney of your choice based upon the specific facts and circumstances that you face.
When businesses face challenging situations, a business divorce is sometimes, but certainly not always, an answer to be considered. Whether businesses should “divorce” depends upon the business, the people in the business, and the goals and expectations surrounding the business. Careful analysis of the business, the people and the communication happening is very important when determining if a business divorce is a good option.
Frequently, when people have a business idea or organize a new venture, they involve me. Similarly, people also call me when a business or the people within a business are not effectively interacting or producing expected outcomes.
Because of my background in FFA, 4-H and business, I probably focus more effort than other attorneys focus on relationships among business partners and stakeholders. When a business is struggling, that struggle can cause friction among co-owners. However, sometimes, friction among co-owners can itself cause a business to struggle.
Read more about business divorce in Lee’s article in the Lima News here: Legal-Ease: Business divorce
Source: LimaOhio.com, “Legal-Ease: Business divorce,” by Lee R. Schroeder, January 30, 2016