One of the most difficult parts of owning a business is getting involved in a dispute with another one of the owners of your business. Disputes between the ownership of a business may occur for a variety of reasons. Nearly all result from poor planning in the business structure.
Sometimes, owners are able to resolve their dispute on their own. Sometimes, it may involve calling in a mediator to work through the problem so the parties can continue to move forward in the business.
Unfortunately, sometimes even this step is not enough. When that is the case, one partner may ask a court to dissolve the business. When this litigation comes to pass, business owners can expect costly litigation, potential loss of customers, and a decrease in employee morale (and occasionally employees departing.) Additionally, it can be difficult to obtain information that was previously very easy to obtain. For instance, your partner may have known where documents were stored or may have removed them from the premises.
At this point, it’s always a good idea to review the governing documents for your business. Then, meet with your attorney to discuss the effect of the rules you have set up on the dissolution of the business.
Ultimately, you may be able to amicably resolve the dispute one way or the other with your business partner. Nonetheless, it is always advisable to seek the assistance of a skilled attorney who can ensure that your interests are protected. He must be very conversant with this specialized area of law. Meek Law Firm has experience with ownership disputes and will work to ensure that your business interests are protected and that the company remains as profitable as possible. Call Meek Law Firm today at (704) 848-6335 or fill out the contact form to schedule a consultation.