Encino, Los Angeles Business Partnership Disputes Attorneys
Partnerships have often been compared to marriages since partners have the same fiduciary duties towards each other that spouses have. And like marriages, conflicts in the partnership relationship often center around issues of trust, control and finances.
At the Law Offices of Steven J. Horn our Encino, Los Angeles partnerships lawyers understand the complex relational dynamics involved in conflicts within business partnerships, whether the business is a professional practice, small manufacturing company, service company, retail store, family business, or other enterprise.
If your business partnership is currently involved in an internal conflict, our experienced Encino, Los Angeles business attorneys may be able to help solve your dispute through negotiation and mediation. When acceptable out-of-court solutions are not possible, we have the necessary experience and skills to succeed in litigation.
Sources Of Partnership Disputes
The sources of a partnership dispute are numerous. Some of the most common include the following:
clashing personalities
declining partnership revenues
argument over direction of the business
argument over profits
poorly written partnership agreements
dishonest partners in control of partnership assets
partners who were wrongly ousted by partners in control
Partnership Formation
Often times the disputes which arise in a partnership can be traced to its formation, especially when there is a failure to properly plan the roles of the partners, the relationship between the partners, and the partnership operations. Sometimes friends or family members entering a partnership forego a written agreement altogether because they think this indicates distrust which might sour the relationship. However, in order to avoid many future disputes, it is critical to have a well-drafted partnership agreement. A variety of issues should be addressed, including:
the particular commercial enterprise of the partnership
the concerns and goals of each partner
the procedure for addition of future partners
the expected roles and duties of each partner
the initial contribution of each partner
subsequent contributions if partnership funds run short
procedures for salaries, draws and profit distribution
procedures when a member leaves the partnership
control of partnership finances
auditing and fraud prevention
rules for trade secrets and covenants not to compete
procedures and restrictions on transferring ownership interests to third parties
procedures for partnership dissolution
Partnership Dispute Resolution in Encino, Los Angeles
Even temporary disputes can have a costly effect on business operations. At the Law Offices of Steven J. Horn, we strive to resolve disputes through negotiation and mediation whenever possible. We prefer to get to the heart of the disagreement and determine what remedies may be available. However, if out-of-court settlement is not possible, our Encino, Los Angeles partnerships attorneys are prepared to fight for our client’s interests in court.
Partnership Dissolution
In situations where partners are unable to continue together in business, the best option may be to dissolve their business entity. This process is often complex and requires the assistance of an experienced attorney. There are two types of business dissolution:
Voluntary dissolution: A partnership may be dissolved at any time with the agreement of the partners. Issues to be considered include notice to customers or clients, division of business assets, responsibility for on-going projects, assumption of liabilities, etc.
Involuntary dissolution: A partner can file a lawsuit seeking dissolution when the partners are unable to agree. The court usually orders an accounting and division of assets and liabilities. If there is an issue of improper conduct by a partner, an independent receiver may be appointed to manage the business while the dissolution is pending.
Business Partnership Dispute Attorney Encino, Los Angeles, CA
While business owners may have a great relationship in the beginning of a business enterprise, disputes can sometimes arise that cannot be remedied by the partners. If your partnership is undergoing such difficulties, it is important to contact an Encino, Los Angeles business partnership dispute attorney as soon as possible. At the Law Offices of Steven J. Horn, our experienced business attorneys can negotiate and find solutions to partnership disagreement, or can litigate those disagreements in court if necessary. Contact us today to protect your partnership rights. Call Us For Free Consultation (818) 385-1050.
We have experience in a wide range of partnership disputes, including but not limited to disagreements over profit sharing, breach of fiduciary duties, dissolution of partnerships, and disputes arising from partnership agreements.
If you’re experiencing conflicts with your business partner(s) that are impeding the operation or profitability of your business, it’s wise to seek legal counsel. We can assess your situation and advise you on the best course of action to protect your interests.
Partners in a business have certain legal rights, including the right to access partnership records, the right to a share of profits, and the right to participate in management decisions. If you feel your rights as a partner are being violated, we can help you assert and protect them.
The best way to prevent partnership disputes is to have a clear and comprehensive partnership agreement in place from the outset. This document should outline each partner’s rights, responsibilities, and the procedures for resolving disputes. We can assist you in drafting or reviewing your partnership agreement to ensure it adequately addresses potential areas of conflict.
If you’re already embroiled in a partnership dispute, it’s crucial to seek legal assistance as soon as possible. We can help you assess your options, negotiate with the other party if appropriate, and represent your interests in mediation, arbitration, or litigation if necessary.
The duration of a partnership dispute resolution process can vary depending on the complexity of the issues involved and the willingness of the parties to cooperate. We strive to resolve disputes as efficiently as possible while ensuring that our clients’ rights and interests are fully protected.
The potential outcomes of a partnership dispute depend on the specific circumstances of each case. In some instances, disputes can be resolved amicably through negotiation or alternative dispute resolution methods such as mediation or arbitration. In other cases, litigation may be necessary to achieve a resolution. Our goal is always to secure the best possible outcome for our clients, whether through negotiation, mediation, arbitration, or litigation.
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Mr. Horn has been my attorney for approximately 10 years
Mr. Horn has been my attorney for approximately 10 years. He has represented me in civil litigation matters involving realestate and contract disputes. I had two cases go to court and he won both trials. He was well prepared, and...
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I hired Mr. Horn after I observed in him court at trial in a case in which I was called as a witness to testify in dispute involving a father and son. The case had difficult issues and father and...
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Steven J. Horn
The Law Offices of Steven J. Horn has experience in business litigation, real estate matters, recycling laws and personal injury.
