What is a Deadlock in a New York Business?
Corporate "deadlocks" relate, primarily, to closely held New York corporations, partnerships and limited liability companies. Basically a deadlock is where you and your business partners disagree and where under the governing corporate legal documents (such as a partnership, shareholder or member operating agreement) no one party has control.
When faced with a "corporate deadlock" you need to proceed with caution and carefully plan out your actions as "deadlocks" are typically, accompanied by a much larger partnership and shareholder dispute. If you are faced with an underlying dispute with your business partners, you should evaluate your legal rights with your New York business attorney and discuss with him or her how to effectively approach any claimed deadlock.
- Take Your Business from Local Success to National Franchise with The 90 Day Franchise Launch Program
- An Entrepreneurs Guide to Purchasing a Business or Franchise
- ENDWISE: The Guide to Selling Your Business with Peace of Mind
- The New York and New Jersey Partnership Dispute Guide
- Franchise Counsel Program