Disputes can happen between business partners, no matter how amicable the partnership is. Unfortunately, they can strain your company. Sometimes, the dispute can’t be resolved by the usual means of communication, mediation, or arbitration. In such cases, litigation is the final option for resolution. If you are in a dispute with your business partner, a small business attorney las vegas can help you determine the best way to achieve an effective resolution. The attorney can help you with all legal issues relating to your partnership. Below are some partnership situations where you must consult with a small business attorney:
Helping You with the Legalities When You Start a Small Business
There is a lot a small business lawyer can do for you even before you start your business. Seeking good legal advice at the outset lets you avoid many partnership disputes down the line. Your attorney can help you with different details of your business including filing the necessary documents with the government, choosing a business name, and registering your intellectual property. Also, they can help you draft a detailed partnership agreement that outlines how you will run your business and offer mechanisms to avoid partnership disputes before they even start.
Handling Breach of Contract
To enforce the terms of a contract, you may have to sue your business partner. You and your partner may have more than one contracts that can include partnership agreements, employment agreements, operating agreements, non-compete agreements, and nondisclosure agreements. Should your partner breach these contracts, you may have to sue either to force them to comply with the agreements or recover damages for losses that resulted from their breach.
Helping You Understand Your Options when You Partner Misused Partnership Assets
Whether your partner used the company credit card for their personal bills or use your equipment or take your products for personal use without accounting for it, their actions can drain your company of vital cash flow. As a result, your company may not be able to fulfill its obligations to investors. If your partner continuously misuses your business assets, you must take steps to protect your company. A small business attorney can help you understand your options and reach a solution.
Dissolving a Partnership
Sometimes, it may no longer make sense to continue a partnership. No matter the reasons, a small business lawyer can help you dissolve your partnership and ensure all assets and liabilities are distributed fairly.