Conflict in the Family Business: Managing Conflict Through Legal Agreements

Conflict in the Family Business:
Managing Conflict Through Legal Agreements

Newsletter
by Robert B. Curran
Whiteford, Taylor & Preston

Disagreements and conflict among owners or managers of closely-held firms can have devastating consequences. A company’s inability to anticipate and resolve internal strife could threaten the very existence of the firm.

In many cases, such conflict can be prevented or resolved through carefully prepared legal agreements.These can direct parties on issues such as corporate governance, establishing and modifying compensation arrangements, circumstances requiring the withdrawal of a participant, and setting the price and terms for purchasing a department participant’s interest. More…