Mississippi Business Journal Publishes Article by Brant Pettis on Beginning or Ending a Business Relationship
Mississippi led the nation in new business formations in 2020. This trend spurred Balch’s Brant Pettis, partner in the Litigation Practice, to share his insights with local entrepreneurs who are beginning or ending a business relationship in a new article published on April 19, 2021 by the Mississippi Business Journal.
As business owners contemplate the launch of a new business, or if they are in need of a business “divorce,” Brant provides several points to consider concerning the rights and obligations of all parties involved.
First, Brant highlights the importance of giving careful attention to a well-planned ownership agreement as a business launches. An ownership agreement can document the rights of an owner to withdraw from the business relationship, obligations of loyalty, fair compensation and more. Although pre-planning alleviates many common and costly disputes, Brant also warns that disagreements can still occur as one business partner seeks to leave the relationship. Fortunately, the law provides options for ending the relationship and retaining the right to recover damages in certain instances.
Based in Gulfport, Miss., Brant Pettis helps business clients and contractors to resolve claims in and outside of court and to comply with regulatory requirements.