Legal Disputes in Family-Owned Businesses: Common Causes and Outcomes
Disputes between owners of family-owned businesses can be expensive, time-consuming, and disruptive. While it is impossible to eliminate all risk that a dispute might erupt between stakeholders, there are several common issues that can trigger a family-owned business dispute. Among these are lack of transparency and communication breakdowns, failure to act in the best interest of the company, and conflicts of interests. Many of these disputes can be avoided with clear communication and thoughtful decision-making processes. When the parties resort to litigation, the range of outcomes will vary depending on the claims. This program will highlight some of the common causes and common outcomes in litigation of family-owned business disputes.
About the Presenter
PRESENTER: Michael P. Connolly
ORGANIZATION: Murtha Cullina LLP
Michael Connolly is a partner in Murtha Cullina’s Litigation Department. He represents owners and managers of family-owned businesses and closely-held businesses in connection with disputes between business owners under LLC operating agreements, shareholder agreements, and partnership agreements; claims against directors and officers concerning company management and operations; and other internal disputes concerning business valuations, corporate distributions, and access to company information.
Michael also has an active business litigation practice. He represents businesses in commercial disputes involving contracts and trade practices, including business asset purchase and sale agreements, commercial leases, financing and franchise agreements, disputes concerning trademarks, trade secrets, and other confidential business information, and land use and environmental matters.
Michael is also the Editor of Murtha Cullina’s Family Business Perspectives Blog.