I Cut, You Choose: Key Considerations in Drafting Deadlock Provisions
by Jennifer L. Villier, JD | Legal Education Faculty, WealthCounsel
Any 50/50 business relationship can be tricky. The possibility of deadlock is real, and often a primary reason for avoiding equal joint ventures. With a properly drafted buy-sell agreement, however, equal owners can protect themselves from conflict and other triggering events that may lead to the sale or dissolution of the business. Deadlock provisions, known by a handful of colorful names can be drafted...