How Does An Attorney Help To Resolve A Partnership Dispute In Florida?
Business partners rely on each other to operate their joint business with care, attention, and skill. A dispute between partners in business can emerge for a wide range of reasons—from disagreements about the finances to differing visions for the future of the company. With partnership disputes, a proactive approach is critical. The right lawyer can protect your business and your personal financial interests, and help you find a sensible resolution. In this blog post, our West Palm Beach partnership dispute lawyer explains how an attorney can help you resolve a partnership dispute in Florida.
Identify the Fundamental Basis of the Partnership Dispute
With partnership disputes, the first step to find a successful solution is to identify the fundamental basis of the disagreement. In some cases, the core of the dispute is far deeper than the parties may initially realize. It is important for a partnership dispute lawyer to put in the time, effort, and resources to fully understand the underlying issues.
Investigate the Matter: Clarifying Your Rights and Responsibilities
Next, the specifics of the partnership dispute should be thoroughly investigated. An experienced Florida partnership lawyer will help you understand your rights and your responsibilities. For a business partnership in Florida, your rights and responsibilities are derived from two main sources:
- Partnership Agreement: Do you have a written partnership agreement? If so, it must be carefully reviewed. Your rights and responsibilities come largely from your agreement.
- State Law: Florida’s partnership laws impose certain obligations on business partners, including a basic duty of care and a duty of loyalty to the partnership.
Evaluate Options for Resolving the Matter Before it Escalates
A partnership dispute does not have to mean the end of the business. Though, that is always a risk that needs to be taken into consideration—especially for partnership disputes that drag on or otherwise turn nasty. A Florida partnership law attorney can help you evaluate all options (formal and informal) to resolve the matter before it escalates further. Options include:
- Settlement negotiations;
- Partnership mediation; and
- Business arbitration.
Prepare for Business Partnership Litigation
Litigation is not the desired outcome for a partnership dispute. It is generally better if the matter can be favorably resolved without court. However, the reality is that a partner may sometimes be required to litigate a partnership dispute to protect their legal rights and business interests. An experienced Florida commercial litigation attorney will prepare your case for court. Whether you are filing a lawsuit or defending a lawsuit, an attorney will ensure that you are in the best position to make your case.
Call Our South Florida Partnership Dispute Attorney Today
At Pike & Lustig, LLP, we are devoted to providing solutions-oriented business law services to clients throughout South Florida. If you are stuck in a partnership dispute, we are here as a legal resource. Get in touch with us today to request your confidential, no obligation initial case review. Our firm has law office locations in West Palm Beach, Miami, and Wellington.