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Business litigation may help end partnership disputes

When you first started your business, you likely had ideas that you and your business partner would rule the company and gain desired success. Unfortunately, you may have fallen victim to going into business with someone who later revealed differing ideals and goals. As a result, you may wish to end your partnership in order to pursue the dreams you had in mind.

After deciding to move in such a direction, you may need to take various steps before a separation finalizes.

Review agreements

When you entered into the partnership and began your business, you likely created a partnership agreement. In this agreement, you and your partner may have detailed stipulations that the dissolution of the partnership should follow. If so, following those terms may make for a reasonable and quick ending to the partnership. However, if a partner decides to go against those terms, conflict could arise.

Partner meeting

Of course, when deciding to end a partnership, both parties should be aware of the situation. Therefore, you may wish to have a formal meeting in which you and your partner can discuss the issues and determine whether any changes could salvage the partnership. If not, you can discuss your dissolution concerns and desires.

Dividing assets

After a partnership comes to an end, the business will likely need to face division between the controlling parties. In many cases, soon-to-be ex-partners can evenly divide assets and liabilities in a manner that leaves each with a fair share. However, you may wish to keep control of the company, and a partner may disagree with such terms. As a result, you may want to consider civil litigation for gaining the outcome you desire.

Business litigation

Some individuals consider business lawsuits fairly common. Of course, each case proves unique to the parties involved. Your situation differs greatly from other partnership disputes, and, therefore, you may wish to assess your particular circumstances. If you decide to move forward with litigation, you may fear that you will lose out on your desired outcomes if you do not take the proper steps with your litigation proceedings.

Luckily, experienced California legal professionals understand such fears and could assist you in moving forward with your case. These attorneys could help you better understand your options and what steps to take in order to see that your business does not fall to shambles. Your concerns, legal strategies, partnership agreements and other aspects can go under review and assessment in order to potentially find the most viable legal path for you.

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Chodos & Associates
1880 Century Park East
Suite 615
Los Angeles, CA 90067

Toll Free: 866-986-7255
Phone: 310-598-3405
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