Elite Advisor Forum: Team and Shareholder Agreements: The Commercial Pre-Nup (Part 2)

Michael Gold’s article, "Team and Shareholder Agreements: The Commercial Pre-Nup (Part 2)" was published by the Elite Advisor Forum.

Over the years, we have received many calls from upset advisers who had formed advisory firms. The issues are diverse. Sometimes minority owners claim they are being cheated out of what they thought was theirs. We also get calls from firms in which governance issues that had not been fully thought through when the firm was formed were now threatening the firm’s survival. And sometimes owners have called us after they have learned that the protections for the firm or its owners they thought were in place from the outset were not really there. Because they hadn’t handled these issues—because these issues were not properly addressed up front—they now faced the prospect of making lawyers rich instead of themselves.