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I am the Business Manager of a Medical Center of which the…

I am the Business Manager...
I am the Business Manager of a Medical Center of which the owner is currently in the process of selling to a large organization. We service over 400 clients for occupational medicine and workers compensation as well as a large family practice. I have worked for this physician for 26 years. Can I protect myself from being phased out of my job by the new owners? Can I ask the current owner for a buy out before I release my magnitude of knowledge on to the prospective buyers? How can I protect myself?
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Answered in 16 minutes by:
6/26/2010
Richard - Bizlaw
Category: Legal
Satisfied Customers: 10,841
Experience: 30 years experience corporate, litigation, international
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As an employee you are obligated to carry out your responsibilities which would include assisting in the transition. It would be appropriate to discuss with the physician your future and perhaps a buyout so your future will not be totally dependent on the new owner which probably has its own managers. See how that discussion goes before taking any action. Given the long relationship you may get the result you are seeking. If you take a more aggressive threatening posture that will undermine your relationship with the current owner and probably result in no future with the new owner as they will learn of your actions.

 

This communication is not intended as legal advice. A local attorney should always be consulted for legal advice. No client/attorney relationship is intended or created by this communication.

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Customer reply replied 8 years ago
I appreciate your response however I am unsure what is a fair amount to request for length of service as well as information needed from me to train the new managers. Have you ever seen a lawsuit filed for unfair termination in this type of situation? I don.'t want to go down this road but I have been privy to many secrets over the years. You are right and things may work out my way because I have a good relationship with the present owne right nowr but I'm only looking for ways to protect my own interests.

There is no such thing as unfair termination claim. Unless you have a written employment contract, you can be terminated at any time with or without cause. Your strongest bargaining chip is to leave employment now which does not help your cause. After 26 years, a termination payment of two year's salary would not be unreasonable. You are an important contributor to the value of the business which the doctor will be compensated for. Many company's use a month of pay for each year of service.

 

This communication is not intended as legal advice. A local attorney should always be consulted for legal advice. No client/attorney relationship is intended or created by this communication.

Richard - Bizlaw
Category: Legal
Satisfied Customers: 10,841
Experience: 30 years experience corporate, litigation, international
Verified
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Customer reply replied 8 years ago

Thank you for your time. You've been very helpful and gave me the bargaining tools I needed. If it works out in my favor I will definitely give you a bonus.

Thank you for accepting the answer and good luck

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