Michigan Business Beat | Laura Kane, Foster Swift, Avoiding 50/50 Business Owner Deadlocks

Originally uploaded July 28th, reloaded August 3rd. Jeffrey Mosher welcomes Laura A. Kane, Attorney, Foster Swift Collins & Smith PC, Grand Rapids, MI, one of their 5 locations across the state. What is a tiebreaker provision, and why is it important in a 50/50 owned company? What problems arise when two equal owners disagree on a major business decision? What happens if a governing agreement contains no deadlock or tiebreaker mechanism? What types of disputes most commonly create deadlocks between equal owners? Hiring or firing executives Capital contributions Sale of the business Taking on debt Expansion plans What are the most common tiebreaker provisions used in shareholder agreements and operating agreements? Many business owners focus on how to start a company. Why is planning for disagreement and deadlock often just as important as planning for success? » Visit MBN website: www.michiganbusinessnetwork.com/ » Watch MBN’s YouTube: www.youtube.com/@MichiganbusinessnetworkMBN » Like MBN: www.facebook.com/mibiznetwork » Follow MBN: X.com/MIBizNetwork/ » MBN Instagram: www.instagram.com/mibiznetwork/