Ocala, FL Partnership Disputes
During the creation of a business, sometimes individuals may enter into a partnership. In these cases, it is important to have a written agreement and communicate clearly to avoid any complications. Unfortunately, partnership disputes can and do arise. Partnership disputes are incredibly dangerous to the well-being of a business because they can damage a business’s growth and future, lead to loss of profits, and severely impact its reputation. Since losses of a partnership and profits often have a direct impact on the partners themselves, this means that a dispute can also place your financial well-being in jeopardy.
When partnership disputes arise, legal intervention is necessary. If you find yourself involved in a partnership dispute that is threatening to paralyze or destroy your business and you require the help of a legal professional, contact Schatt Hesser Mcgraw. Our commercial litigation attorneys are experienced in order to provide you with the legal guidance and support you need to effectively settle disagreements and protect your business.
Common Causes of Partnership Disputes
Business partners are bound by certain duties and obligations, and infringement of such obligations can lead to serious disputes. Many of these disputes stem from structural issues such as the direction of the business and who controls it. Through extensive knowledge and experience, our Ocala attorneys can help resolve disputes that arise regarding your business. While each partnership dispute will likely differ given its individual factors, some of the most common disputes arise over:
- Misappropriation of assets
- A breach of contract or fiduciary duties
- Real estate disputes
- Acts of fraud
- Tax issues
- Creditor claims
- Stock valuation
- Corporate waste
- Lost business opportunities
- Desire for the dissolution or liquidation of a business
Resolving Partnership Disputes
Because of the close relations in partnerships, disputes can often become personal and place a business in danger. At Schatt Hesser Mcgraw, our commercial law attorneys help our clients employ different strategies to resolve disputes and navigate through the difficulties of partnership law. Our attorneys can assist with the understanding of partnership and contractual obligations, as well as investigate all claims regarding the misappropriation of funds, breaches of partnership, or any other issues that have caused the dispute. We can also provide the necessary help to resolve disputes pre-litigation. Negotiation between parties can often break deadlock and reveal options for moving forward.
If a partnership dispute cannot be resolved through mediation in an out-of-court agreement, commercial litigation may be necessary. Our attorneys can provide you with the necessary counsel and assistance for the dissolution of a business.
There are two types of dissolutions — voluntary dissolution and involuntary dissolution. Voluntary dissolution is when both parties agree to the dissolution, making the process easier than in involuntary dissolution. However, there are still many complex legal issues to handle, such as the distribution of assets and debts, where an attorney can be of great assistance. In involuntary dissolution, only one of the partners wants to end the partnership. In this case, he or she must file a lawsuit and the court will order the dissolution and determine the distribution of assets.
Commercial Lawyers in Ocala, FL
At Schatt Hesser Mcgraw, we understand how damaging partnership disputes can be to a business. That is why our attorneys try to resolve all complications with as little impact to your business as possible. If you are facing a partnership dispute and require professional representation, contact us today for Ocala commercial attorneys you can count on.