VALUE JUDGMENT: Karen Rice, a certified valuation analyst at the Providence accounting firm Kahn, Litwin, Renza & Co. Ltd., says it is important for business partners to agree early on about how the value of a company will be calculated to determine how an exiting partner will be compensated. PBN PHOTO/MICHAEL SALERNO
When starting a new business, the last thing on an owner’s mind is the moment they will walk away from it. But drafting an exit strategy is just as important as drafting a business plan, especially when setting up a venture with multiple business partners. Failing to do so can get messy. “Sometimes the situations…
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