Business Partnership Disputes
The term Business Partnership Disputes covers all types of business ownership. As a partner, you owe each other loyalty, good faith, and fundamental fairness duties. These duties are called fiduciary duties. Breaches include partners competing for activities and misappropriating business funds and property. In some cases, this can lead to a lawsuit. This article will explain some of the most common business partnership disputes and how a litigation lawyer can help.
What Are Partnership Disputes?
Business partnership disputes arise as a result of various scenarios where the company’s viability is becoming threatened. When this is happening, objectives may be shifting, and distrust among partners may be growing. Ultimately this affects a business’s bottom line.
When this happens, partners may disagree on the company’s direction, the management of the business, and the terms of partnership agreements. Less complex issues may start to grow and become more significant disputes. Ontario’s Partnerships Act governs partner liability and partnership matters. Our corporate-commercial litigation lawyers are well-equipped and can assist in any scenario of business partnership disputes.
How Should Partnership Disputes Be Handled?
It is crucial to resolve these disputes as quickly and diligently as possible to avoid lengthy and costly litigation. If a dispute is to reach litigation, our lawyers have the skills needed to represent our clients in their business’ best interests.
Whether it is a general, limited, or limited liability partnership business, our lawyers have vast experience dealing with companies of all sizes across several industries. This experience is providing us with the ability to assist in complex partnership disputes.
Avoiding Business Partnership Disputes
Disputes can arise at any level of a business, from small businesses to publicly traded joint ventures. Regardless of the nature of the business, disputes involving partners can arise over various issues. For example, a partner may accuse another of misconduct, seek to exclude a partner from management, or wish to exclude someone from the business. If these problems are serious enough, business litigation is required to resolve them. Fortunately, a litigation lawyer can help you avoid these pitfalls.
How Can Our Corporate Commercial Litigation Lawyers Help?
Our lawyers can assist with varying business partnership disputes, including:
- Partner liability for wrongful conduct
- General liability of the firm
- Dissolution of business
- Sales of business
Contact Us for Help
If you require representation or seeking to clarify your rights with respect to a business partnership dispute our team of commercial litigation lawyers would be happy to help you navigate your matter. Contact us at 1-800-771-7882 or email [email protected], and we would be happy to assist.