Partnership Disputes in Houston, TX
People have disagreements. It's a part of life, but when disagreements happen within business relationships it can get a little sticky. A partnership dispute happens when people who are in business want to dissolve their relationship because of differing goals or opinions. You may have lost trust or respect for your business partner, and whether both parties feel that way or it is one-sided, you have found yourself in the middle of a partnership dispute. You may or may not be surprised to know that most business partnerships don't make it past five years. Dissolution of partnership is often desired when business partners disagree, but it is distinguished from dissolution of the firm.
Partnership Disputes & Shareholder Disagreements
Our experienced business law attorneys work hard and act aggressively to maximize our clients' compensation. Our law firm has secured billions of dollars in favorable verdicts and settlements for our clients in a variety of litigation-related cases. As with many other types of disputes and misunderstandings, partnership disputes can be caused by a number of factors, including arguments over profits, declining revenue, differences in management or business style, difference in opinion over the direction of the business, shareholder agreements, or even insufficient partnership agreements that were not written to anticipate the changing needs of the business.
Regardless of the cause, the results can be disastrous for your company. Often, a disagreement between key partners can lead to a downward cycle as the people involved start making decisions based more on spite than the true needs of the business. Partnership disputes can evolve into much more serious business problems such as:
- Breach of fiduciary duties
- Trade secrets
- Business disparagement
If you believe that a business partner is failing to uphold his or her duties, you should take immediate action to investigate the issue. The quicker you can resolve a dispute, the better for your business—and your bottom line.
Avoiding a Partnership Dispute
There are some ways you can try to avoid a partnership dispute, although nothing is fool-proof. Having clearly defined goals for your business from the get-go can help immensely. If both parties are on the same page as to where the company is going, then you will both have a similar vision. It is also important to establish business roles early on in the partnership. By being aware of exactly what you are both responsible for can help avoid ambiguity which can lead to confusion and anger. If you do come to a place in your business partnership where there is a dispute, it will help if you possess a written agreement of what the business relationship was intended to be when you started.
Whether or not the dispute leads to dissolution of partnership, it is important to get professional help for someone experienced in the field of commercial litigation. It always helps the situation to have an objective party to evaluate your case and organize your affairs. If you find yourself in the middle of a partnership dispute and you want to seek professional help, contact us. Our firm is made up of individuals who are business-savvy. We can help you.
Contact a Houston Business Lawyer for Your Partnership Dispute Case
Our business attorneys can review your case carefully, working with accountants and other financial experts to collect any evidence necessary to clearly present the facts of your dispute. Whether the best outcome is to dissolve the partnership or recover lost profits, our legal staff will provide you with recommendations that fit your specific business goals. We are ready to handle all of your business and commercial needs. If you need representation or have questions, we can help provide you with the right recommendations to protect your company.
Contact a Houston business law attorney at our firm today to learn more.