Business partners indulging in a legal battle is not something uncommon these days, hence leaving the business in a devastating situation. Shareholders may have in-congruent positions of bargaining or may not be eligible to effectuate a buyout by themselves. We, at BizValue Ltd., are a middle-market accounting and business consultancy firm that offers shareholder disputes, fair value standard, business valuation, business divorce, shareholder oppression, corporate dissolution, forensic accounting, and other such services in and around Nassau County NY, New York City, Raleigh NC, and Suffolk County NY.
So, when should you exactly consider hiring us for your business divorce? When can you exactly know it is time to split with your partners? Take a look at some of the signs below.
• Ideological Differences: If your strategic goals and future growth plans are no longer identical, you might not find any reason to continue doing the business together. What was once a shared vision will seem like a forced burden. So, instead of making this a daily grind, it is better to end the partnership.
• Illegal Activities by your Partner: DO you suspect your business partner to be involved in illegal or unethical business practices? Tax fraudulence, making personal expenses on business accounts, ending deals with clients without informing you, or indulging sexual misconduct is absolutely unacceptable and therefore, it is time to prevent your losses and end the relationship now.
• Unequal Division of Labor: If you are in a partnership, all the responsibilities and tasks must be divided equally so that it is fair and reasonable to both of you. But when it seems that you are shouldering most of the work than your partner, but the benefits are enjoyed by both, it is time to realize that things will not work anymore.
So, what are you waiting for? If you also notice such signs in your business partnership, get in touch with us today without any further delay.