What Do I Do If I Suspect That My Business Partner Is Stealing From The Partnership?
A partnership is one of the most common ways to structure a business. It can be efficient and effective. At the same time, the partnership entity requires partners to put a great deal of faith into each other. This raises an important question: What can I do if my business partner is stealing money? The answer depends on many different factors. In this article, our West Palm Beach partnership dispute lawyers discuss the “dos” and “don’ts” if you believe that your business partner is stealing money in Florida.
Four Things You Should Do If You Believe Your Business Partner is Stealing Money
There are few things more stressful or frustrating than learning that your business partner has abused your trust. Here are four key things you should if you believe a business partner is stealing from the partnership:
- Be Proactive: A proactive approach is crucial if you believe that theft or embezzlement is occurring. The sooner you address the matter, the better financial position you will be in.
- Document Everything: Your suspicions are not sufficient to take legal action. You need to document everything. Take a close look at all partnership accounts.
- Refer to Partnership Agreement: Do you have a copy of the partnership agreement? Always refer to the agreement to assess your rights, responsibilities and obligations.
- Consult With an Attorney: Partnership theft and embezzlement cases are notoriously complex. You should consult with an experienced Florida partnership law attorney. Your lawyer will be able to assess the matter and explain your legal options.
Two Things You Should Not Do If You Believe Your Business Partner is Stealing Money
As stressful as it can be to find out that your business partner is engaged in theft, fraud, or embezzlement, it is important to remain calm and handle the matter through the proper legal channels. Here are two key things that you should avoid doing if you believe that your business partner is stealing from the partnership:
- Make an Accusation Without Evidence: Leveling an angry accusation of theft or fraud without the supporting evidence could cause deeper problems. Make sure you get all of the information you need.
- Take Action Outside the Scope of Your Rights: Be careful about taking action outside the scope of your rights under the partnership agreement. You do not want to open yourself up to any risk of legal liability. A partnership law attorney will help you understand the best way to proactively protect your assets from ongoing theft, fraud, or embezzlement.
Get Help From a Partnership Dispute Attorney in Southeast Florida Today
At Pike & Lustig, LLP, we are devoted to helping our clients find the best available legal solutions. If you believe that your business partner is stealing or embezzling from the partnership, we are here to help. Give us a call today to arrange your confidential case review. From our West Palm Beach office and our other offices in Miami and Wellington, we serve clients throughout South Florida.