It’s crucial to consult your business dispute lawyer before you even enter into a partnership agreement with someone. That way, you have the guidance and representation you need to proceed with a partnership knowing your rights and interests remain protected.
If a dispute with a business partner arises, the hope is to resolve it amicably. Unfortunately, some issues can be challenging and turn into long, drawn-out battles.
Although you might be able to work through some of the problems you and your business partner face, a seemingly insignificant matter can turn into a courtroom brawl without an experienced lawyer to guide you.
You could benefit from a lawyer during some of the most common business disputes below.
How to Operate the Business
Starting a new business is an exciting adventure. Partnerships could involve your best friend, parent, or another person close to you. In the beginning, both parties are looking forward to this new chapter and might agree on everything about the business at first.
However, as the business evolves, problems can arise that are difficult to overcome. A business dispute lawyer comes in handy in these situations. They can assist you with business operation matters, such as:
- How you should manage the employees
- Amount of profits to reinvest in the company
- Strategies to expand the business
- Tasks in-house personnel should handle and which tasks you can outsource
If you have a partnership agreement in place, it could address some issues you and your partner face. Unfortunately, many people don’t seek assistance from an expert while drafting a partnership agreement.
A lawyer can help you and your partner navigate this roadblock in the partnership and draft a new agreement so you can settle disagreements over how to run the company.
How to Resolve Contract Violations
Another common business dispute between partners is a violation of the partnership contract. When you start a business with someone, a contract outlines specific vital matters, including each person’s role, profit distribution, and liability.
Contracts are supposed to protect the business and each partner’s interests. If you don’t have a contract or discover your partner violated the contract in any way, you’ll need a business dispute lawyer to step in and help you navigate the next steps.
How to Dissolve the Partnership
Unfortunately, many partnerships don’t last. Whether you and your partner differ on future plans, one or both of you want to pursue other business ventures, or you simply decide it’s time to part ways, you must proceed with a proper dissolution.
During the process, disagreements can arise over issues, such as:
- How to divide the assets
- Provisions of one partner buying out the other
- How to pay off debts
- The value of each party’s share in the company
Your partnership agreement should provide some guidance about how to dissolve your business. However, if you find errors in the contract or never drafted one in the first place, a business dispute lawyer can walk you through each step of the dissolution to protect your interests and try to reach your desired outcome. You should leave the partnership with what you want and deserve, so you can move on to the next stage in your life.
If you encounter a dispute with your business partner, do not hesitate to contact California-based attorneys at Wagner Zemming Christensen, LLP in Riverside. We can review the matter at hand and determine the available legal options moving forward.
Resolving a business dispute with your partner should be about keeping the peace and finding a way for both of you to get what you want. Maintaining an amicable relationship is crucial to the continued success of your company. You can depend on our legal team to guide you through every step and pursue a solution without compromising your needs.
Contact Wagner Zemming Christensen, LLP for your confidential consultation today.