Category Archives: Partnership Disputes
Partnership Law In Florida: What To Know About Self-Dealing
Self-dealing is exactly what it sounds like: It occurs when an individual takes advantage of their trusted position for the benefit of their personal interests, and not the party/entity to which they owe legal responsibilities. In Florida, self-dealing could be a violation of the state’s partnership laws. In this blog post, our West Palm… Read More »
Partnership Disputes: Your Guide To Alternative Dispute Resolution (ADR) In Florida
Business partners end up in disputes for many different reasons. A partnership dispute, even if it turned ugly, does not necessarily mean you are headed for lawsuit. Quite the contrary, business partnership disputes are often good candidates for alternative dispute resolution (ADR). As noted by the Florida Bar Association, the term ADR is used… Read More »
Partnership Dispute: Fox Files Lawsuit Against Flutter
According to a report from CNBC, Fox has filed a lawsuit against Flutter Entertainment, the parent company of the popular sports gaming app/website ‘FanDuel’. The two companies, which are involved in a partnership, are now in a dispute over the price that each side must pay to obtain a greater stake in FanDuel. Here,… Read More »
How a Buyout Agreement Can Help You Avoid a Partnership Dispute
The sudden loss of a partner—whether because of sudden death/disability or unexpected retirement—can cause serious problems for a business. During this transitional period, the risk of dispute is especially high. A type of contract called a ‘buyout agreement’ or ‘buy/sell agreement’ can provide much needed clarity and protection. Here, our West Palm Beach partnership… Read More »
Partnership Disputes: Usurpation of Business Opportunity
A corporation’s officers and directors owe certain duties to the company. Among other things, these trusted individuals are prohibited from using their position to take a valuable business opportunity for themselves. A corporation’s shareholders can bring a usurpation of business opportunity claims against an officer or director who violates their legal responsibilities. While business… Read More »
Voluntary Partnership Dissolution and Disputes
A partnership dissolution is a term used to refer to the termination of a partnership. Broadly speaking, partnership dissolutions fit into two categories: Voluntary dissolution and involuntary dissolution. An involuntary dissolution occurs when a court forces a sale to resolve a deadlock dispute. In contrast, a voluntary dissolution occurs when the partners agree to… Read More »
Want to Avoid a Partnership Dispute? Here are Four Things You Need to Do
Though it is difficult to get reliable data, we know that a significant percentage of business partnerships end in divorce. A recent study found that as many as 70 percent of partnerships eventually fail. Knowing the challenges associated with owning and operating a business, it is imperative that you and your partners implement the… Read More »
Partnership Disputes and Your Taxes: What You Need to Know
Partnerships are taxed as pass-through entities. In effect, this means that the profits (and losses) from the business “pass” directly to the partner. Each partner is then responsible for reporting the income and paying tax on their individual return. This raises an important question: How do you deal with taxes when partnership income is… Read More »
Limited Liability Partnerships (LLP) and Disputes
As a business owner, a legal dispute is one of the last things you want to deal with. Disputes take time, money, and focus. A dispute with a customer, client, or another company is challenging enough—it is even more difficult when there is a serious disagreement within the company, between the business partner. If… Read More »
How to Voluntarily Dissolve or Liquidate a Partnership in Florida
There may come a day when it is time to end a business partnership. As voluntarily dissolving/liquidating a business is complicated, it is imperative that you take proper care to protect your financial interests. It is not uncommon for serious disputes to arise when partners are trying to wind down operations. Here, our Miami… Read More »
