As with any relationship, disputes among business partners are inevitable. Presumably, you decided to build your business with someone you trust, and it’s tempting to want to think that things will always be as great as the day you started. Unfortunately, that’s not always how it goes.
While you can’t avoid partnership disputes entirely, you can take steps to make sure you have fewer of them and hopefully keep a disagreement from meaning the end of your business. At Gouchev Law, we know the ins and outs of partnerships and are here to help you make the right business decisions for your growing company – from setting expectations that will help avoid common partnership pitfalls, to helping you find the best resolution when disputes do arise.
Many partnership disputes relate to the same basic underlying issues – money, partner roles, workload, and business expectations. The good news is that you can go a long way toward avoiding these disputes by having a solid Partnership Agreement that sets out clear expectations from the beginning.
In addition to setting out the company’s overall vision, a proper agreement addresses ownership percentages, the contribution of money, time, labor, or property, the responsibilities and roles of each partner, salaries and distributions, and how key decisions will be made. By discussing these contingencies before you start and putting them in writing, you can often avoid fighting over these same issues down the road. Partners should also always have a long and detailed discussion about goals and expectations before going into business together to make sure that everyone’s on the same page.
Even with a good agreement and the best intentions, disputes still arise. And when they do, it’s important to have an experienced attorney on your side to help you understand your rights and obligations.
Partnership disputes should be resolved as soon as possible in order to avoid any business stoppage, loss of profits, or worse yet, and end of the company. Your emotions will understandably be running high. That’s why we’re here to help you find the best solution, as quickly and painlessly as possible.
Ideally, your Partnership Agreement will set out a process for dealing with disputes. If it doesn’t, we’ll help you. In some cases, simply sitting down and talking may be all it takes to resolve the issues. In other cases, mediation is the answer. In the unfortunate event that things escalate to the point of going to court, our team will guide you through the process and make sure you achieve an outcome that’s best for both you and the business.
Dissolving a Partnership
As hard as we all try, some disputes unfortunately just can’t be reconciled. If you reach that point, it may be in the best interest of the business to dissolve the partnership. We understand that you’ve poured your heart and soul into your business, and dissolution should only be pursued if there’s no other workable solution. The experienced business law attorneys at Gouchev Law will help you dissolve the partnership in a way that’s fair to everyone and causes the least amount of disruption in your business and personal lives.
All too often, partnerships are derailed by disputes that could be easily avoided or resolved. We’re here to help you make sure that doesn’t happen. When disagreements inevitably arise, it’s our job to guide you through them, so you can continue to focus on making your business a success.
How we helped Kunal
“Gouchev Law’s attorneys are not only extremely knowledgeable and generous with their time, they are also a totally different kind of lawyers. They come up with creative, flexible solutions. Unlike so many others I’ve worked with, Gouchev Law’s team sees different ways of doing things and that goes a long way for our business.”
Kunal Sethi, Founder of S Cap Investment
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We know that understanding what legal documents and protections you need is not your jam. Relax: we’ve got you covered.
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Our growing company clients of all sizes seek commercial stability and growth. Increased regulation and competition, and the globalization of doing business, create the need for tailored legal counsel in the day-to-day operations of a growing business. New corporate governance regulations have brought about significant change in how business is conducted, and technology continues to accelerate the pace of transactions and the need for information.
Gouchev Law provides that trusted counsel you can rely on every single day and as you plan the future of your company. We will create a legal team for you that not only understands your specific industry and the laws governing your businesses but also your very specific goals and how best to achieve them.
Trusted Counsel At Your Side
As your business grows, we’ll be right there with you, providing continuing counsel to you and your company as you face new opportunities and challenges. Every great company journey comes with its fair share of tests and growing pains, but with Gouchev Law at your side, you can face them all. We will help you to create partnerships that maximize your growth while protecting your interests, develop and defend IP, and scale your business into new markets as you bring in new investors, equity, and partners.
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