When business owners get divorced, their settlement may have profound consequences for the business and other owners. Often, one spouse “sells” or gives up a share of the business to the other spouse. Since most small business owners do not have enough cash to pay a lump sum for that share, they might have to make installment payments over months or years. It is critical to structure the divorce settlement […]
The Court noted that there is no statutory definition of “income” for alimony cases in California, and it was unclear whether retained earnings could be properly categorized as “income” for alimony purposes.
The Seventh Circuit held that the salary earned by a CEO of a privately-held business (including a $17 million year-end bonus) was neither excessive nor a disguised dividend.
The NYT defined goodwill as “the amount they overpaid for a business compared with the sum of its parts.”