Miami Business Lawyer For Resolving Partnership Disputes – Company Partner Litigation Attorney South Florida

 

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Partnership Dispute

Partnerships are one of the most frequently used business entities in the United States. Partnerships include a number of different entities, such as limited liability partnerships, general partnerships, and so forth. The primary feature of all these different entities is an agreement between multiple parties to come together and create a jointly operated business. As business entities, partnerships provide some key benefits for the partners, such as tax treatment and formation simplicity. Given the complexities involved in running a business and managing different personalities, disputes among business partners tend to arise regularly. Fortunately, there are things partners can do to minimize the possibility of disputes; and, even if a dispute arises, there are steps you can take to resolve the issue in a relatively speedy manner.

 

Partnership Disputes Happen Often

Partnership disputes are a fairly common issue. If we pause and think for just a moment, we can see easily why this is the case. The business world is complex, and partners often have very different personalities and motivations. Given all the variables, we can see how partners can often clash over things such as perceived mismanagement of the business, breach of fiduciary duty, misappropriation of funds, allocation of assets, breach of non-compete agreements, fraud, and others as well.

In some cases, disputes arise because one or more partners engage in fraud or other similar behavior which is obviously problematic. In other cases, however, disputes arise simply because partners have honest disagreements over certain matters, such as the optimal allocation of funds.

 

The Benefit of an Operating Agreement

As is usually the case, preventing issues before they arise is generally the best strategy. To prevent disputes, one of the best tools is an operating agreement (also referred to as a shareholder or partnership agreement). An operating agreement is a formal business document which essentially lays out all the aspects of the business. This includes all the expectations of the partners regarding management, direction, policy, and so forth. The more detail and specificity an operating agreement includes, the better the agreement will be able to prevent potential disputes from arising in the future.

Drafting, revising and concluding an operating agreement is not a small task. This is particularly true for larger, more complex partnerships. For this reason, you are advised to consult with a qualified business attorney in order to develop an optimal agreement in a timely fashion. In many ways, you can think of your investment in an operating agreement to be an effective long-term strategy to reduce future costs. The more you invest in your agreement up front, the better you will be able to avoid potentially costly litigation at some point in the future

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Why Choose Trembly Law:

  • We align our interests with you, the client’s interests – We do this by offering flat fee structures when it makes sense, whereas other firms simply bill as much time as they can.
  • Our firm is way ahead of the technology curve compared to other firms – This makes us not only more efficient (saving time and money on client cases) but we also work with many technology firms on their cases so we better understand their unique situation.
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  • Trembly Law is highly experienced, we’ve handled all types of business agreements and situations, including ones probably just like yours – In addition to our trademark law experience, we’ve drafted many agreements for buying / acquisition of a business, selling a business, merging with another company, license agreements, asset purchases, litigation issues, incorporation and more.

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The Trembly Law Firm Can Help Resolve Disputes

Even with a well-crafted agreement, disputes can still happen. If a dispute arises, you should take the steps necessary to see that the dispute is resolved as quickly as possible. The Trembly Law Firm has substantial experience in the areas of both operating agreement creation and partnership dispute resolution. Our lawyers can help you resolve disputes as rapidly as possible so that you can minimize both the financial and emotional costs of such disputes. If disputes drag on, they can cause very significant problems for your business. Get in touch with the Trembly Law Firm today to learn more about our services in these areas.

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