In some ways, going into business with someone is like marriage, at least old-fashioned marriage, where the parties, lost in a romantic haze, know that they will be happily together until the end. As we all know, it doesn’t always work out that way. In business, it’s best to be prepared from the beginning for disagreement, disenchantment, disability, or death.
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THE MINORITY SHAREHOLDER “OPPRESSED” BY THE MAJORITY
The small, closely-held corporation is in many ways a conceptual hybrid. It has many attributes in common with large, publicly traded corporations, such as legal “personhood,” independent life and limited liability for its shareholders. On the other hand, the small closely-held corporation also has many attributes in common with partnerships, such as limited transferability of […]