One of my business partners wants out of the company, and I don't have the money to buy him out. What are my options?

 

A: When an LLC is set up, it is wise to have all the owners establish a buyout agreement or a buy-sell agreement to minimize these types of partnership disputes in the future. If you do not have a written agreement, your state's laws may control what you can and can't do. If you do have a written contract, you and the other owners will have to follow the written orders agreed upon previously.

Have you looked at bringing in a new owner to buy into the company? In order to buy yourself time to find the money, an investor, or another owner, you could attempt starting the process of mediation or arbitration.

No matter what you do, it is critical that you speak with a skilled business litigation attorney to find out more about your rights and to help protect the future of your company. We understand these business disputes can be messy and time consuming, and we know how to handle them to save you time and money.

Contact the Voss Law Firm and ask to speak with one of our experienced Texas business litigation lawyers today in a free, no-obligation legal consultation at (866) 276-6179. Also, be sure to request your FREE copy of attorney Bill Voss's book: Business Disputes - Critical Information for All Business Owners.


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