Shareholder and Partnership Agreements, Practice Buy-Ins/Buy-Outs, and Practice Mergers

If you have heard horror stories about associate buy-ins, you are not alone. Without proper preparation, the buy-in process can be unnecessarily lengthy and hostile. Fortunately, our team has extensive experience with both the legalities and the practicalities of this process. A proper understanding of the intricacies of buy-ins not only simplifies the process when it is time for an associate buy-in but can also offer you a strong bargaining chip when hiring and retaining top talent. With our assistance, you can be confident that your buy-in process will be pleasant and beneficial for all parties.

In addition to buy-in agreements, we can also assist you with buy-out/buy-sell agreements. We understand things change, and now might be the time to take control of your destiny.

Disputes arise for even the most well-intentioned people. Shareholder and partnership agreements can help to address issues before they arise and allow you to focus on what really matters. We make certain to address all issues head-on and ensure that all parties understand potential outcomes. Most practice issues arise over communication failures and misunderstandings about responsibilities. Let us provide you with a shareholder or partnership agreement that addresses your needs and can help your practice achieve its full potential.

A well-drafted agreement focuses on both existing and potential concerns, including:

• What happens in the case of death or disability
• Buy-out and financing issues
• Compensation scenarios
• Disparate treatment days
• Practice earnings

Despite your best efforts, disputes among practice owners do arise. When these disputes occur, you need informed legal advice as to how the dispute can best be resolved without impacting the long-term success of your business. The best way to avoid disputes is to ensure that your ownership structure is built upon a solid foundation. Therefore, once your dispute is resolved, we will take additional steps to diagnose how and why the dispute arose and how similar disputes can be avoided in the future.

Partnership disputes can arise from:

• Misunderstandings rooted in the purchase process
• Personal hostilities
• Workplace misconduct

If a partnership is not an ideal solution for you, another option to consider is to merge practices. Whether you are merging for collaboration or for a transition, we can assist you with your contract.

Some things to consider when merging practices:

• The benefits and drawbacks
• Practice valuations
• Location
• Team members
• Logo and practice name
• Practice philosophy