Breaking Up a Business in Florida: What You Need to Know

– Business break-ups in Florida can be messy and difficult.
– Planning ahead and considering potential future challenges can help ensure an amicable break-up.
– Having an experienced contract law attorney can further increase the likelihood of a smooth break-up.
– The presentation by Austin B. Calhoun covers the Florida contract law issues for owners of closely-held businesses.
– Reasons for business break-ups can include fraud, inequity, disagreements, financial events, pursuit of alternative investments, and unforeseen circumstances like death or disability. – Mechanisms for a Florida business break-up under the law include buy-out or dissolution, negotiated resolution, freeze-out, termination or squeeze-out merger, and going through the courts.
– It’s important for all parties to agree upon key provisions and keep their agreement updated to avoid unintended consequences.
– The consequences for the eight D’s (death, divorce, disability, dissention, dissolution, departure, debt overload, decline of market) should be discussed and outlined.
– The presentation covers topics such as break-up planning, majority rule with fiduciary duty, amicable and orderly break-up, forcing a break-up, and defending against a forced break-up.

https://www.jimersonfirm.com/blog/2018/08/florida-business-break-up/