Do you have a partnership dispute? Are your partners trying to exclude you from the business? This articles discusses what your rights are.
If you have found yourself stuck in a partnership dispute, here's what you should consider:
Is the partnership dispute resolvable? Can you and your business partner come to a resolution or are you considering dissolving the business?
In either case, it is important to involve your commercial litigation attorney to ensure that your interests are protected and your needs are communicated.
Is there a partnership agreement that governs the business arrangement? If no, you may want to speak to your attorney about what your rights are. If there is a partnership agreement, it should outline the rights and responsibilities of each partner. If you still have questions or need clarification regarding your specific situation, again, your attorney should be able to advise you.
Can your business partners work behind your back and exclude you from business management? Refer to your partnership agreement, but also check the laws of your state to find out what additional rights you have as one of the partners of the business. In most cases, a partner will have the right to the business records and finances. If you are being excluded, speak to your attorney, you may have the right to dissolve the business partnership.
Sometimes a partnership dispute is due to lack of communication. If you run a small business, a mediator may be able to assist with resolving the conflict. If the dispute is more complex, seek legal advice from a qualified and experienced business litigation attorney. Keep records of all your communications in writing and try to keep all your emotions out of the dispute for best results.
If you have any questions, send us a message.