Protecting Yourself from Partnership Disputes
Countless business people go into a business partnership, whether in the form of a true partnership, a joint venture, limited liability company, or corporation with the best intentions, only to find themselves in a legal dispute. Clashes amongst partners, members, joint venturers, and/or shareholders are extremely common, and occur in every type of business and industry.
As in divorce, financial issues predominate over other causes of insider disputes and dissatisfaction. Also like divorce, business partners are inclined to blame each other for poor financial success and fight over control, assets, and the future of the partnership. Disputes of this nature may have severe negative impacts on the overall functionality of a business partnership, irrespective of the form, and make it difficult for partners to reach a resolution. The most common partnership disputes include:
- One or more partners, members, joint venturers, and/or shareholders wanting to sell the company;
- Deciding who will retain ownership and control over the business;
- Personnel retention; and
- How will profits be distributed and losses will be allocated.
If your business is suffering from internal disputes, disagreements, or financial losses, an experienced business lawyer can help you resolve issues before the dispute gets to a point where winding-up, dissolution, or litigation becomes necessary. Having an experienced business attorney can also help identify and evaluate options to be explored.
If your partnership or business is failing or if you are in the midst of a dispute amongst partners, members, joint venturers, or shareholders, contact Ezer Williamson Law to discuss how best to protect your business interests.