Partnership separation
My ex-wife and I started a SaaS business together 22 years ago. The company has been successful with about 500,000 customers from all around the world, many third party developer add-ons for our product and a comprehensive market place.
About five years ago I stepped back from the business to raise our two children. Our marriage did not survive. We are now in the middle of a court battle to divide the financial assets.
The company's revenue is approximately US $500k with profit of about US $200k with book profits of US $50k. The majority of the profit is being taken offshore and into crypto assets that only my ex-wife can access.
I have requested access to bank statements and the like however these are being supplied in an incomplete basis as she doesn't want to make it easy for me to get an accurate value of the business. This values the company at less than $100k despite us previously receiving offers to sell the company for US $10 million about five years ago (she now says that offer was a scam but I don't believe her).
What I am wondering is what would you do to find out the true value of the company to get my fair share from the partnership?
How would you go about tracing assets? I have engaged a forensic accountant to value the company but they seem intent on traditional valuation methods and are not interested in doing the leg work to track down the crypto assets.
Alternatively, how would you suggest that I find someone to buy my stake in this company? With my ex's co-operation this would be easy but she is trying to do this only after I have surrendered my half.
I would get a more competent attorney, seemingly one that can do multiple jurisdictions.
You're likely going to need a court order and a forensic accountant to get through all of this.
Honestly, sounds like you're fucked. Good lesson to have a formal partnership agreement.
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