Partnership exit clauses keep getting buried in the fine print

I was reviewing a friend's operating agreement last week and the buyout section sat on page 14, hidden between boilerplate stuff. Nobody reads that far and it got ugly when her partner left over a disagreement about a rented warehouse in Austin. She ended up paying 30% more than the fair market value because the clause defined 'departure' too loosely. Has anyone else seen exit terms that are basically traps for whoever leaves second?

1 comments

Log in to join the discussion

Log In

1 Comment

leohart1d ago

Tbh fair market value isn't always the right benchmark anyway.

1