As business, professional, and real estate entities are formed, partners in these formations are encouraged to focus on potential disputes and how they may impact an entity's viability. "Commercial divorces" raise many unexpected and difficult issues that planning and risk management can help to avoid or mitigate. The panel provided insights into the pitfalls and best practices to better serve the client, from business "prenup" to "divorce" and anywhere in between. Topics covered included:
- Being alert to problem areas, gaining a better understanding of what can go wrong, and how to deal with such issues
- Learning to analyze various provisions/terms of relevant agreements (including business formation, governance, and buy/sell documents) in the context of a possible commercial divorce
- Being able to better structure future agreements to avoid pitfalls
- Being informed of the benefits and drawbacks of litigating, arbitrating, and mediating commercial divorce disputes
The class enabled litigators to better understand business/transactional issues and helps business/transactional attorneys appreciate the litigation perspective.