Business divorce : understanding its dynamics and formulating solutions

Mr. Knee is admitted to practice law in the states of New York and New Jersey and before the courts of those states, the U.S. Supreme Court, the U.S. Court of Appeals for the Third Circuit, and the U.S. district courts for the districts of New Jersey and the southern district of New York. Mr. Knee is a graduate of New York University School of Law and Duke University. He is a member of the New Jersey Association of Professional Mediators, a founding member and former member of the Board of Directors of the New Jersey Inn of Transactional Counsel, and a member of the Justice Marie R. Garabaldi Inn of Court for Alternate Dispute Resolution. Mr. Knee is on the list of approved mediators of the Superior Court of New Jersey. Book jacket.

• Preface p. ix
• About the Authors p. xi
• Acknowledgments p. xv
• Introduction p. xvii
• Chapter 1 Typical Fact Patterns p. 1 Stephen H. Knee, Esq.
• Chapter 2 An Ounce of Prevention Is Worth a Pound of Cure p. 5 Stephen H. Knee
• Buy-Sell Agreement p. 5
• Governance p. 6
• Corporations p. 6
• Limited Liability Companies and Partnerships p. 6
• Dispute Resolution Provisions p. 7
• Buy-Sell Provisions p. 7
• Triggering Events p. 8
• Other Provisions p. 11
• Tax Considerations p. 11
• Chapter 3 Psychological Dynamics of Closely Held Businesses: Impact of Partnership and Family-Owned Business Divorce p. 15 Dr. Jane M. Sullivan
• Perspectives on Partnerships p. 15
• Coming Together: Business Partners p. 17
• Staying Together: Maintaining the Partnership p. 20
• When Staying Together Is Painful: Coming Apart p. 24
• Termination/Disengagement/Divorce p. 28
• The Real Issues p. 32
• Meaning of the Relationship p. 33
• Duration: Nature of the Conflict p. 33
• Irreconcilable Differences p. 34
• Influence of Advisors p. 34
• Ultimate Goal p. 35
• Multiple Partnerships p. 36
• Perspectives on Family Businesses p. 36
• Definition of Family p. 37
• Families in Business p. 40
• Special Dynamics p. 42
• Economic Interdependence p. 42
• Multiple Perspectives p. 43
• Childhood Histories p. 45
• Sibling Relationships p. 45
• In-Laws p. 47
• Ethnicity p. 48
• Outside Family Members p. 50
• Complexity p. 51
• Sources of Conflict p. 51
• The Conflict Process p. 55
• Succession as a Special Issue p. 55
• Coming Apart p. 57
• The Divorce p. 57
• Causes of Divorce p. 58
• The Divorce Process p. 59
• Methods of Resolution p. 62
• Indirect Methods of Resolution p. 62
• Direct Methods of Resolution p. 63
• Prevention/Intervention Strategies p. 64
• A Written Agreement p. 64
• Board of Advisors/Board of Directors p. 65
• Family Council p. 66
• Mentoring of Sibling Teams p. 67
• Conclusion p. 68
• Additional Resources p. 68
• Chapter 4 Assembling the Professional Team p. 71 Stephen H. Knee
• Attorney p. 72
• Accountant p. 72
• Investment Banker p. 72
• Psychologist or Business Advisor p. 73
• Other Professionals p. 73
• Chapter 5 Ethical Considerations p. 75 Stephen H. Knee
• Who Is the Client? p. 75
• Chapter 6 Legal and Other Issues to Be Resolved p. 77 Stephen H. Knee
• Existing Obligations p. 77
• Selling Owners' Benefits p. 79
• Claims and Litigation p. 79
• Dissenters' Rights p. 80
• Other Considerations p. 81
• Additional Resources p. 82
• Chapter 7 Tax Issues p. 83 Kenneth G. Hydock
• Additional Resource p. 85
• Chapter 8 Valuation p. 87 Bruce Bingham
• Approaches to Value and Key Drivers p. 90
• Income Approach p. 90
• Market Approach p. 92
• Cost Approach p. 94
• What Can Be Done? p. 95
• Value in a Non-Litigated or Non-Arbitrated Divorce p. 95
• Chapter 9 Methods of Resolution p. 99 Stephen H. Knee
• ADR p. 99
• Mediation p. 100
• Arbitration p. 100
• Advantages and Disadvantages p. 101
• Litigation p. 103
• Index p. 105