Avoiding Partner/Co-Owner DisputesThe best way to resolve a partner/co-owner dispute is to prevent one from happening in the first place. A good business lawyer can draft a business ownership agreement in such a way that it minimizes the chance that a dispute will ever occur between the co-owners of a business. How? By clearly delineating the rights and responsibilities of all co-owners involved in a partnership via a written business agreement. When there is no written, binding business partnership agreement in place, then generic statutes will come in to play during litigation. This can cause unforeseen consequences that neither partner will like or benefit from. That’s why an official business agreement is pertinent at the formation of the partnership!
Why Do Business Ownership Disputes Happen?Most business ownership disputes happen as a result of poor planning and miscommunication of the rights and responsibilities of each co-owner. In other words, the vast majority of these business disagreements are completely preventable with the help of an experienced business attorney. However, even the most carefully formed partnerships will have issues arise that have the potential of causing an ownership dispute. These disputes can occur because of new business developments, differences of opinion, personality clashes, and any number of other reasons.
How to Resolve a Business Ownership DisputeWhen business ownership disputes do occur, you have several options for how to bring about a resolution. In most cases, business litigation is the last resort as it can be a long, arduous, and expensive process. To avoid litigation, the parties should consider mediation or arbitration to keep the dispute out of court. Even these alternatives to a courtroom battle require the assistance of reputable business lawyers, however. These professionals can help you and your co-owner discuss the dispute objectively and come to a resolution that benefits both parties.
The Importance of Hiring an Experienced Business Litigation LawyerSome business partnership disputes simply cannot be resolved by mediation or arbitration, though, and must be litigated. In these cases, it’s even more important that you hire experienced business litigation attorneys to represent your best interests throughout the process. After all, there is a lot on the line, including your business reputation and assets.
The skilled business attorneys at Ensberg Law Group have assisted hundreds of business owners throughout Southern California work through partner/co-owner disputes, including those that must be litigated. We’re ready and willing to help you as well.