Generational problems, the loss of a partner’s interest in or desire to continue to "earn his keep," divergent business goals, greed and jealousy are some of the reasons a successful business can spiral out of control. The fact is, no executive or professional whose career is tied to a non-public entity is immune from the possibility that the owners of the firm or company will have an irreparable break-up.
Our business divorce team offers sympathy and compassion for businesspeople who live in the "war zone" or anticipate partner problems down the road. We work with partners and shareholders of privately held businesses in all industries to help them keep their businesses together, to protect their rights and interests in a dissolution, and to help them dissolve their businesses via the smartest and most economical means.
Professional practice partnerships including law firms, dental and medical practices and accounting firms all turn to Herrick for help in their dissolution. Many well-known law firms, as well as departing members of top-tier law firms, have turned to our business divorce team to represent them when they confront their own business divorces. Some of the cases we litigated have come to define the standards that govern the rights and obligations of law partners who leave their firms.