Businesses owned by a relatively small group of people, whether family members taking the enterprise to the “next generation” or unrelated entrepreneurs, present special challenges.
Conflicts often erupt inside the walls of closely-held businesses, over strategic direction, succession planning, disparities in work ethic or compensation, management roles, or family squabbles that bleed into business matters. These disputes present extra layers of complexity, ranging from the heightened duties owed by such owners, to the key roles within business operations which can be impacted by a “corporate divorce,” to the cash flow effects of an unanticipated buy-out.
Critchfield’s litigation team brings extensive experience navigating owners through these disputes. We work with our clients, whether they are in majority or minority ownership positions, to develop an appropriate strategy to resolve these differences outside the public eye if possible, while keeping the business thriving – and when more dramatic action is required, we stand ready to take matters to court if necessary.