File puptcrit/puptcrit.0611, message 294


Date: Mon, 20 Nov 2006 00:55:44 -0700
From: "Steve Millward" <millwarden-AT-gmail.com>
To: puptcrit-AT-lists.driftline.org
Subject: Re: [Puptcrit] Partnership Buyout


Hi Evy,
     This may or may not help in your case, but one way I've seen
partnerships amicably resolved is for the partner that wants to
discontinue the partnership to fix a value on their half of the
partnership.  The other partner then has the option of buying the
first partner out for that price, or of selling his/her share to the
first partner at that price.  In other words, "you tell me what half
is worth, and I'll tell you if I am selling or buying. "   Of course,
if you both want to keep half, that's another matter entirely.  Even
then, one of you could divide everything of value into two parts, and
the other one gets first pick.  Once you have your half, you are free
to negotiate for things you wanted but didn't get.  In this case
remember the first rule of negotiation:  The one who makes the first
offer usually comes out second best.

Good luck

Steve Millward

On 11/19/06, Jimsan777-AT-aol.com <Jimsan777-AT-aol.com> wrote:
>
> In a message dated 11/19/06 4:08:38 PM, evy_wright-AT-yahoo.com writes:
>
>
> > My puppet partner and I are disolving our partnership
> > - amicably I'm glad to say. Although we should have
> > had a buyout agreement in place, we do not.
> >
>
> Attempt to sell the shows and equipment to a 3rd party.   That will be
> positive proof what it's worth.   Even though each of you probably contribute
> different talents, money, time, etc.   if you are equal partners, you are equal
> owners.
>
> In what condition is the show, equipment, etc.?   How much did each
> production generate in sales over the past 5 years?   Are you selling the company, with
> good will, contacts, future bookings, etc. or are you just selling a show?
> How much income can conceivably be expected in the next two years by extending
> the same marketing that you have done in the past?   Can either of you find a
> replacement puppeteer to perform for you?
>
> Tell me the answers to these questions and I will give you an estimate of
> value.   JIm Gamble
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