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Four Signs You Need An Attorney For A Partnership Dispute

West Palm Beach Business Litigation Attorney 2023-01-26 16-48-30

Are you locked in a dispute with a business partner in Florida? These are matters that can be particularly difficult to navigate. Partnership disputes should be handled proactively and with the proper care. Of course, not every disagreement between business partners is a full blown legal dispute. At the same time, you need to be ready to get an attorney by your side at the earliest sign of bigger problems. In this article, you will find an overview of five signs that you should hire a Miami partnership lawyer for your partnership dispute.

  1. Contract Issues (Partnership Agreement) 

Partnership agreements outline the rights, responsibilities, and expectations of each partner. Disputes may arise when partners disagree on the interpretation or enforcement of these agreements. A Florida business law attorney with expertise in partnership law can help you understand the terms of your partnership agreement, negotiate with your partner, and, if necessary, litigate the dispute in court. 

  1. Allegations of Breach of Fiduciary Duty 

Florida law poses limited fiduciary duties on business partners. For example, a business partner in South Florida has a fiduciary duty to act in the best interest of the partnership. They must handle their professional duties with the duty of care and loyalty. When a partner breaches this duty, it can have severe consequences for the business. Some notable examples of breach of fiduciary duty include misappropriation of funds, self-dealing, or disclosure of confidential information to competitors. If you suspect that your partner has breached their fiduciary duty, it is a big sign that you should consult with an experienced Florida partnership law attorney. 

  1. A Deadlock of the Future of the Business 

In some cases, partners may find themselves unable to reach a consensus on essential business decisions, leading to a deadlock. It is a type of dispute that can significantly impact the daily operations of the business. A Florida partnership dispute attorney can help you explore options for resolving the deadlock, such as mediation, arbitration, or court intervention. Your lawyer can also advise on strategies for preventing future deadlocks, such as updating your partnership agreement or incorporating voting mechanisms. 

  1. A Threat of Legal Action Against You

If a partner threatens legal action against you or the partnership, it is vital to consult with an attorney right away. Your Florida partnership law attorney can assess the situation, advise on potential defenses or counterclaims. Your lawyer will help you develop a strategy for resolving the dispute. Acting promptly may prevent the dispute from escalating and save you time, money, and stress in the long run.

Set Up a Florida Partnership Attorney Today

At Pike & Lustig, LLP, we are dedicated to helping our clients find solutions that work. Do you think you may need a lawyer for a partnership dispute? Our legal team is here to help. Call us now for a confidential consultation. Our firm provides partnership dispute resolution representation in Miami, Fort Lauderdale, West Palm Beach, and throughout Southeastern Florida.

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