In Episode 28 of The Law Deals Podcast, Ed Alexander and his business partner Matt FitzGibbon unpack the hidden clause that can quietly destroy the value of a business or derail an exit. They’ve seen it in law firms, medical practices, and small businesses alike: a partnership agreement written years ago with no connection to today’s reality.

This episode dives into how outdated or vague valuation terms, like book value or fixed buyout amounts, can lead to partners being massively underpaid. Ed and Matt also break down the differences between book value, fair market value, fair value, and most probable selling price, and explain why clarity matters long before a buyout, death, or dispute. If you’ve got a partnership agreement (or plan to), this one is essential. You can find more from Matt FitzGibbon & FitzGibbon Alexander, Inc. at: https://FitzgibbonAlexander.com/