Even the well-intentioned partners may come across disagreement time and again and sometimes legal action is required in order to safeguard the investments as well as assets. Disputes amongst the partners or other corporate owners can arise from failure to fulfill contractual obligations of the partnership contract, operating agreement or other relevant contracts, failure to honour the fiduciary duties and few more. Such dispute also may arise due to secret dealings of a business owner that are just not in the best interests of the company.
In order to prevent this undue disruption in daily operation of business, such type of disputes requires to be solved as efficiently as possible. Here lies the importance of consulting attorneys. Consulting or hiring an attorney who is expert in handling different types of partnership disputes and also are experienced in acquiring the appropriate relief fast, is always advantageous in such a crisis.
Litigation is not the only solution. Especially the owners of small businesses often wish to resolve such type of conflict in an amicable way and return to serve their customers as early as possible. Through alternative procedures such as mediation, arbitration as well as negotiation, the lawyer offers resolutions that effectively address the integrity issues of the business partner or other business disputes.
Here are the few reasons for occurrence of disputes between the business partners
- Mishandling the business finances
- Reduction of profit
- Incompatible visions of the partners
- Failure to form viable partnership contract
- Dishonesty of both or any one of the business partners;
- Personality clashes
- Willingness of one partner to either dissociate himself from business or dissolve it completely
How Attorney Handling Partnership Conflict can Help You?
Business partnerships are not difficult to form. However at times it can pose big challenges. One of the biggest problems is that arrangement of partnership often arises from long term relationship such as a friendship as well as the parties failing to write all the important points and facts in the contract papers. And a lawyer dealing with partnership conflicts can rightly attest that it is important for the friends as well as spouses to put a detailed plan that rightly outlines the pertinent issues related to running an enterprise.
How do you select a reliable attorney to deal with partnership dispute?
First of all, you must do a research and shortlist at least four to five attorneys whom you can meet personally. There are different ways of searching proficient lawyers of your locality. You can search the online listing directories and check out the details of attorneys handling such kind of business affairs. You can also gather necessary information of the lawyers from telephone directory or local bar association or bureau. Gathering information about lawyer from your friends, colleagues, acquaintances or other entrepreneurs is another option for you.
The next step is conduct interview with the potential lawyers. While selecting a lawyer, it is crucial that you gather detailed information about his experience, expertise and the type of clients he has handled till date. Also try to find out the referral process of the lawyer for the customers who need specialised help from outside.
Make sure that the lawyer whom you have hired must have the requisite knowledge about the particular industry or at least should have the requisite resources and show willingness to learn the necessary things about business in order to serve your requirements in the best possible manner.
Ask details of fee and payment procedures. There are multiple fee plans that include hourly, flat fee and many more. Discuss about the payment option with lawyers you interview and also find out how flexible he is in letting you select.
You must be comfortable working with the lawyer. Ensure that he or she can communicate with you in a manner you can easily understand and should be a person with whom you are comfortable interacting with on a regular basis. Do not get perturbed due to your dispute with your business partner. Hire a lawyer who can take you towards a satisfying solution in this matter.
Information offered by parslowsjersey.com.
