Under a business partnership, companies, Limited Liability Companies (LLCs), organizations, and small businesses can use the partners’ combined resources and expertise for marketing their products better and reaching more customers. But when conflicts of interest arise between partners and disputes remain unsettled, the business’ future, as well as the partners’ finances, could be seriously jeopardized. Our business litigation lawyers with Pursiano Barry Bruce Demetriades Simon LLP can help co-owners and investors prevent disputes by carefully drafting the required documentation for business partnerships and resolve any disputes through negotiation. In the event a dispute is taken to trial, we can also represent clients in court. To stop partnership disputes from escalating, contact us today for a free partnership dispute consultation.
A business partnership is a special kind of legal relationship in which two or more individuals operate a business together as co-owners and/or investors. As such, they each have a specified share in the company’s profits. Co-owners also share the day-to-day responsibilities and duties required to operate the new business. Every partnership in the United States must be registered in every state in which it operates.
The required documentation for a business partnership varies depending on the state of operation. In general, however, a business partner agreement must be drafted to outline the general conditions for the partnership, including the duties and responsibilities of each active partner in day-to-day management, as well as any requirements pertaining contributions and dividends. Our Las Vegas business lawyers can help clients draft and review this and other required documentation, following the latest federal, state, and industry regulations.
In the event co-owners no longer wish to remain in a partnership, our litigation lawyers can help draft a partnership dissolution agreement, outlining the general conditions for termination, including a dissolution schedule, the required paperwork, and an asset liquidation and distribution plan. It is important to note that filing a dissolution agreement does not end the partnership immediately. To expedite the process, however, our business attorneys can help prevent further complications by thoroughly reviewing all the necessary legal paperwork.
Conflicts of interests among business partners can arise over a number of executive decisions, including those related to management deadlocks, a breach of contract, succession planning, executive compensation, and corporate regulation violations. Our business litigation attorneys can help negotiate and defend the best interests of our clients while upholding the terms and conditions outlined in the business partnership agreement.
Kickstarting a business can be intimidating, but less so when backed by the financial support and leadership of a business partner. To ensure fair play among partners, however, enlist the help of experienced business lawyers who specialize in business partnership disputes. With decades of experience mediating and resolving conflicts between co-owners and investors, our litigation lawyers with Pursiano Barry Bruce Demetriades Simon LLP can help clients get their business back on track as well as defend them from unfair dealmaking.