Today – whether the morning‚ afternoon or evening – you have many of the same thoughts and questions that you had last week‚ the week before and possibly months earlier. The question is what to do about your disagreements with your business partner and a dispute that may be quietly escalating. That is‚ communication may have broken down‚ discussions are limited and your know that things will eventually need to chnge‚ but what are your options. Well‚ fist you need to understand that you are not alone and partnership disputes represent one of the biggest threats to New York and New Jersey closely held businesses and companies.
So‚ what are your options? Well the asnswer naturally depends on how far along you are but I will assume that you are at the point where the relationship is broken and either the business needs to be sold‚ split up or one partner buys out the other. If this is where you are at‚ then the answer is that you need to be proactive and‚ more likely than not‚ do not have the luxury of waiting any longer.
Many times one partner will move assets‚ establish a competing business‚ misappropriate funds or lock his or her partners out of the business. These are common occurrances so‚ you need to assume that they may occur. The next step should be to speak to an experienced partnership dispute lawyer and my recommendation is to ask your lawyer these questions.
Also‚ order a complimentary copy of "The New York and New Jersey Partnership Dispute Guide" and learn about proven courses of action for dealing with your partner.
Category: Partnership Disputes
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